NASDAQ:EXC may be ready to breakout.

Our stockscreener has identified a possible breakout setup on EXELON CORP (NASDAQ:EXC). This occurs when the stock consolidates following a significant upward movement. While the breakout outcome cannot be guaranteed, it may be worth monitoring NASDAQ:EXC for potential opportunities.

What is the technical picture of NASDAQ:EXC telling us.

At ChartMill, a crucial aspect of their analysis is the assignment of a Technical Rating to each stock. This rating, ranging from 0 to 10, is calculated daily by considering numerous technical indicators and properties.

We assign a technical rating of 7 out of 10 to EXC. This is due to a decent performance in both the short and longer term time frames. Compared to the overall market however, EXC is a bad performer.

• Both the short term and long term trends are positive. This is a very positive sign.
• In the last month EXC has a been trading in the 36.72 - 39.88 range, which is quite wide. It is currently trading in the middle of this range where prices have been consolidating recently, this may present a good entry opportunity, but some resistance may be present above.
• EXC is currently trading in the middle of its 52 week range. The S&P500 Index however is currently trading near new highs, so EXC is lagging the market.

Our latest full technical report of EXC contains the most current technical analsysis.

How does the Setup look for NASDAQ:EXC

ChartMill also assign a Setup Rating to every stock. With this score it is determined to what extend the stock has been trading in a range in the recent days and weeks. This score also ranges from 0 to 10 and is updated daily. The setup score evaluates various short term technical indicators. NASDAQ:EXC scores a 8 out of 10:

EXC has an excellent technical rating and also presents a decent setup pattern. Prices have been consolidating lately and the volatility has been reduced. There is a resistance zone just above the current price starting at 38.50. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 37.96, a Stop Loss order could be placed below this zone.

How can NASDAQ:EXC be traded?

One strategy to consider is waiting for the actual breakout to occur, where the stock breaks out above the current consolidation zone. Traders can then enter a buy position, anticipating further upward momentum. As a risk management measure, it is advisable to set a stop loss order below the consolidation zone.

Please note that this article should not be construed as trading advice. The information provided is solely based on automated technical analysis and serves to highlight technical observations. It is important to conduct your own analysis and make trading decisions based on your own judgment and responsibility.

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

Disclaimer

Important Note: The content of this article is not intended as trading advice. It is essential to perform your own analysis and exercise caution when making trading decisions. The article presents observations created by automated analysis but does not guarantee any trading or investment outcomes. Always trade responsibly and make independent judgments.