Really? We are really counting on Utilities to lead the market by making a historic new high?
This electricity utility had a large tumble, but is it time to turn up? Pay a dividend.
After forming a double top base around $45, a A-B-C Elliott wave retracement has been in an expanding range. Ultimately the bearish price divergence indicate the swing downtrend is continuing. If that occurs, the next target, and likely forecast resistance area, is between $43 and $42 (0.5-0.61 fibonacci) in 30 days - Gann time