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Consolidated Edison Inc.Consolidated Edison Inc.Consolidated Edison Inc.

Consolidated Edison Inc.

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EDC trade ideas

ED with break out of the rising wedge, strong up potentialED is a bullish and strong fundamental stock, so we would only trade it in a long position. Currently, ED is forming a very strong bullish pattern called a rising wedge after a rise-up. With prices breaking out of that pattern, the move could be very strong and fast. However, the advantage and disadvantage for bulls at the same time is big resistance, which is just above our entry point. The volume is very strong due to the good report. It is below all major moving averages, which is bearish, but with the potential in one day to change that story. The RSI did bounce from oversold territory and is now neutral. The MACD histogram is ticking lower and lower with a red candle, which is a bullish sign, while the MACD line is trying to cross over the signal line, which will be a strong buy signal. Overall, ED is in a situation where a pump could bring the price breaking above the pattern, which would trigger tons of buying orders. It would also cross above the 20-day and 200-day moving averages and maybe even the 50-day moving average, which would be very bullish for the stock. Now would be the best time for bulls to step in and start to buy because if we test the lower trend line again from this pattern, then all those moving averages will not be in the same place and would be organized differently, representing resistance on several levels. If we break now, this resistance will become very strong support.
NYSE:EDLong
by Consistent_Trades
BUY $ED - NR Picks Ene 03ES: La compañía brinda servicios de vapor, gas natural y electricidad a los clientes del sureste de Nueva York, incluida la ciudad de Nueva York, y pequeñas partes de Nueva Jersey. Las dos empresas de servicios públicos generan aproximadamente el 90% de las ganancias. Consolidaeted Edison al ser una empresa defensiva ha perdido interés de los inversores este año. Al analizar la compañía nos podemos dar cuenta que la pandemia no ha afectado los resultados de la empresa, tampoco ha aumentado su nivel de deuda lo cual la hace precio atractiva. Fundamentos: - Growth - P/B 1.3x VS 1.7x de industria - 8.8% crecimiento estimado en ganancias netas para los próximos 3 años - ROE 7.44% VS 9.76% de industria Técnicos: - Nivel de precio superior a SMA 250-200-150 - Williams R% en niveles de -10% - RSI (60) Sobrecompra - +12% upside promedio durante el mes Después de una corrección de 16% desde el 16 de noviembre al 22 de diciembre, se puede observar que se detuvo la venta en un soporte clave de 69.4$. A partir de este punto, la acción ha subido 3.4% lo cual ha hecho que el RSI se muestre desfavorable, sin embargo, el respeto por el soporte genera optimismo incluso en niveles actuales. EN: The company provides steam, natural gas and electric services to customers in southeast New York, including New York City, and small parts of New Jersey. The two utilities generate approximately 90% of the profits. Consolidated Edison being a defensive company has lost interest from investors this year. When we look at the company we can see that the pandemic has not affected the company's results, nor has it increased its level of debt which makes it an attractive price. Basics: - Growth - P/B 1.3x VS 1.7x Industry - 8.8% estimated growth in net earnings for the next 3 years - ROE 7.44% vs. 9.76% industry Technicians: - Price level above SMA 250-200-150 - Williams R% at -10% levels - RSI (60) Overbuying - +12% average upside during the month After a 16% correction from November 16 to December 22, we can see that the sale was stopped in a key support of $69.4. From this point on, the stock has risen 3.4% which has made the RSI look unfavorable, however, the respect for the support generates optimism even at current levels.
NYSE:EDLong
by NewroadTrader