Indications Suggest NASDAQ:EXC Could Be on the Verge of a Breakout.

Our stock screener has identified EXELON CORP (NASDAQ:EXC) as a potential breakout candidate. This technical breakout setup pattern occurs when the stock consolidates after a strong uptrend. While the actual breakout is uncertain, it may be worth keeping an eye on NASDAQ:EXC.

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

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

Overall EXC gets a technical rating of 7 out of 10. 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.

• The long and short term trends are both positive. This is looking good!
• 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.
• In the last month EXC has a been trading in a tight range between 36.77 and 38.69.

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

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. There is a resistance zone just above the current price starting at 38.58. Right above this resistance zone may be a good entry point. There is a support zone below the current price at 38.48, a Stop Loss order could be placed below this zone. We notice that large players showed an interest for EXC in the last couple of days, which is a good sign. Another positive sign is the recent Pocket Pivot signal.

How to trade NASDAQ:EXC?

To potentially initiate a trade, it is common practice to wait for the stock to break out of the consolidation zone. This breakout signifies a potential upward movement, and traders may enter the stock at that point. Conversely, if the stock falls back below the consolidation zone, it may be sold at a loss.

This article should in no way be interpreted as trading advice. You should always make your own analysis and trade or not trade based on your own observations and style. The article is based purely on some technical observations.

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.