EXC: completing the V-shape correction?

BATS:EXC   Exelon Corporation
1. V-Shape Correction:
A standout feature in the recent price movement is the V-shape correction. This formation often indicates a sharp reversal in trend. After a swift drop, the price has recovered with equivalent vigour, suggesting a possible change in sentiment among traders and investors.

2. 200-Day Moving Average:
The stock has had significant interactions with the 200-day moving average, a vital indicator for gauging long-term trends. Currently, the price is below this average, which could act as a resistance level in the immediate term.

3. Fibonacci Retracement Levels:
Currently, the stock is oscillating near the 50.0% retracement level. The area around the 61.8% retracement is marked as "increase exposure around 41.00," indicating that this could be a strategic level to monitor for trade entries or adjustments.

4. Target and Stop Levels:
A bullish target is set at $42.00, presenting a potential upside of +5.4%. On the flip side, a stop is suggested at $39.00, indicating a potential risk of -2.1%. With a win/loss ratio of 2.8:1, the potential reward outweighs the potential risk by nearly threefold, presenting a favourable scenario for those with a bullish outlook.

Exelon Corporation's chart paints a picture of recovery following a sharp decline. The V-shape correction, combined with interactions at key Fibonacci levels, suggests potential opportunities for traders. However, the 200-day moving average might act as a near-term resistance.


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