Exelon Corporation (NYSE:EXC) after a big price and volume surge in December, the stock has gone sideways and consolidated in the 35-36.3 trading range. Yesterday, it closed just slightly below its the upper line of the consolidation range, which if broken could accelerate the price toward its August highs around the 37 area.
Technical daily indicators are in bullish zones, and the stock is trading above all five EMAs, The golden cross of the EMA50 above the EMA200 has technically confirmed a bull market. Go long on a close above 36.36
This is a guest post by António Costa, acclaimed trader and the popular author of AC Investor Blog. All views and analysis belong to the author.