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EVERSOURCE ENERGY (NYSE: ES)

Technical analysis

Price

$ 83.77

52 Weeks range

$ 76.64 - $ 92.66

Beta

0.36

Volume/ average

864.9m/1,382m

Sector

Utilities

Dividends

2.88%

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

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