52 Weeks range
$ 76.64 - $ 92.66
Eversource Energy is a diversified holding company with subsidiaries providing regulated electricity, gas and water distribution services.
ES since June 2020 has fluctuated almost regularly on a parallel channel between $ 78.00 and $ 92.00. We believe that last month's retracement could give the stock the needed boost to test again the top of the channel.
The price formed a rising low from 09/28 to 11/11 which we believe could be the beginning of a bullish move
MACD, although just below 0, appears to want to cross to the upside
RSI recently broke the bearish trend line which we believe could lead to bullish swings.
The cyclical nature with which the stock has moved during 2020-2021 is in favour of bullish upside. In addition, the price action seems to be supported by MACD and RSI indicators.
Entry range $ 83.00 - $84.00
Target 1 $ 91.00
Target 2 $ 94.00
Stop loss $ 76.00
OTB Global Investments
18 November 2021