Eversource Energy (ES) is currently showing a bullish trend that could propel it to key resistance levels. My analysis suggests the stock could reach the $71-75 range by year-end, with $72.93 as a significant threshold to watch. The recent pattern of higher lows and higher highs supports this prediction, and if momentum continues, I expect we'll see these targets...
The daily chart sees a new box above the ema 50 with a test going on of the ema 21 - ema 50
$59.53 will create a new bullish crossover together with a short-term positive price action.
ES has shown a curved trend. This large period of stagnation has led price back to this trend line which I think will act as support for price. Daily chart
The PEAD projected a Bullish outlook for $ES after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 50%.
The PEAD projected a Bullish outlook for $ES after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 60%.
ES has formed this very nice bullish flag structure
A breakout will come from this tight range and it will most likely be to the upside
This is a bullflag
An alternate view of this, yet quite similar is below
Watching the reaction to this resistance level, looking into Oct 21 or April 21 ITM contracts because the spread on these contracts is horendous. Overall Bearish here.
An ascending triangle has pushed price up to this level where it has formed a sort of bullflag structure
Price is ready to break out to the upside above the dominant trend line
Weekly chart, very bullish
The PEAD projected a Bullish outlook for $ES after a Negative over reaction following its earnings release placing the stock in drift C with an expected accuracy of 75%.
Some broad level views on VIX...Yes it's possible to do TA on VIX, contrary to what many believe. If you don't believe so, please keep comments to yourself and spend your troll efforts elsewhere. Hopefully this is helpful to someone out there.
Buy (Entry Price) within the buy zone area and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $91.21 / $91.65
Target Price: $92.38 / $92.60
Stop Loss: $90.04
Buy (Entry Price) above the black line and exit (Stop Loss) below the red line. Can take profit at the suggested Target Price.
Entry Price: $91.40
Target Price: $92.30
Stop Loss: $90.21
A bullish confluence of technical indicators supports some upside price potential.
A price action above 89.65 supports a bullish trend direction.
Crossing below this level will negate the bullish trend.
Upside price momentum supports the bullish trend.
RSI is leaving enough space for further upside price potential.
The 1,2 to 3 price action also remains of interest.
Weekly view. Volume picking up over the last few weeks. Strong week into the sma confluence after bouncing off the weekly 200 sma. Looks good long above $87 imo.
