Order set to go long $NRG at $43.70, awaiting breakout to new 52-week high. 3 good contractions getting shallower, including declining volume. Great earnings growth also. Stop as per this chart. Initial target only, will give more room to move as stock moves higher.
a double top can be seen at 43 level so Its only a question of time till it'll breakout 43.
the current support is at 40 level.
Waiting for volume to come in…
Moving average 20 accompanies its upward movement
RSI isn't too high.
following it for an entry above 43 after we see an approval candle.
On my opinion…worth following its movement.
this is not a...
On average over the last 3 periods, NRG pulls back to the trend line every 28 days, which it just hit today. Meaning, if this is right, we should see a pull back to the trend line over the next few days or weeks.
I'm still fairly new at charting so take this with a grain of salt and do your own DD. I'd love to know your thoughts.
NRG has long had a beautiful relationship wit OIL but recently that correlation has gone straight out the window. Im by no means an economics pundit and frankly am slightly unsure as to how an electric utilities company relates to oil (both energy sector? oil used as a means for producing energy? are a few ideas that could be in the right direction).
Entering a trade in $NRG here. Worth the small risk for me with the price hitting the 21 EMA on the weekly chart in a nice uptrend. Looking to hold this for a longer term swing trade for me which hopefully will be around 1 month or so.
$NRG very interesting Stock the stock its been on a down trend looking at weekly and monthly but this time might be different and i want to Test this with you guys if a massive volume like that will do the difference and breakup that upper downtrend line.
I've been looking at NRG'S income sheet and let's just say I've seen better. So this brings up the question of how are they going to erase $13 Billion in debt anytime in the near future. With upcoming earning's I think this stock will be headed lower to the $22 level or even lower.
NRG seems forming a nice flag formation. It had lots of insider buying around $17, before its hotting up. We think it has further upside potential
* Trade Criteria *
Date First Found- July 18, 2017
Pattern/Why- Flag formation breakout
Entry Target Criteria- Break of $23.57
Exit Target Criteria- $26.33
Stop Loss Criteria- $22.13
Please check back for Trade...