In-Depth Technical Analysis of DOMINION ENERGY INC.

A possible breakout setup was detected on DOMINION ENERGY INC (NYSE:D) by our stockscreener. A breakout pattern is formed when a stock consolidates after a strong rise up. We note that this pattern is detected purely based on technical analysis and whether the breakout actually materializes remains to be seen. It could be interesting to keep an eye on NYSE:D.

Insights from Technical Analysis

ChartMill assigns a Technical Rating to every stock. This score, ranging from 0 to 10, is updated daily and is determined by evaluating multiple technical indicators and properties.

Overall D gets a technical rating of 8 out of 10. In the last year, D was one of the better performers in the market. There are positive signs in the very recent evolution, but the medium term picture is slightly mixed.

• The long and short term trends are both positive. This is looking good!
• When comparing the yearly performance of all stocks, we notice that D is one of the better performing stocks in the market, outperforming 81% of all stocks.
• D is currently trading in the upper part of its 52 week range. The S&P500 Index is also trading in the upper part of its 52 week range, so D is performing more or less in line with the market.
• In the last month D has a been trading in the 52.93 - 57.70 range, which is quite wide. It is currently trading near the high of this range.
• Prices have been consolidating recently, this may present a good entry opportunity.
• D is part of the Multi-Utilities industry. There are 25 other stocks in this industry, D did better than 66% of them.

Check the latest full technical report of D for a complete technical analysis.

How do we evaluate the setup for NYSE:D?

In addition to the Technical Rating, ChartMill provides a Setup Rating for each stock. This rating, ranging from 0 to 10, assesses the level of consolidation in the stock based on multiple short-term technical indicators. Currently, NYSE:D has a 9 as its setup rating, indicating its current consolidation status.

Besides having an excellent technical rating, D also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is very little resistance above the current price. There is a support zone below the current price at 56.12, a Stop Loss order could be placed below this zone. Another positive sign is the recent Pocket Pivot signal.

Trading setups like NYSE:D

One way to play this would be to wait for the actual breakout to happen and buy when the stock breaks out above the current consolidation zone. A possible place for a stop loss would be below this zone.

Disclaimer: This article is not intended to provide trading advice. It is crucial to conduct your own analysis and consider your own observations and trading style when making investment decisions. The article solely presents technical observations and should not be relied upon as a sole basis for trading.

Our Breakout screener lists more breakout setups and is updated daily.

Disclaimer

This is not investing advice! The article highlights some of the observations at the time of writing, but you should always make your own analysis and invest based on your own insights.