Consolidated Edison Inc Stock Forecast
Explanation to Bollinger's Bands
Bollinger Bands was created by John Bollinger in the early 1980s, its purpose is to define price action relative to the assets highs and lows. This technical indicator is used to identify buy and sell signals and has proven very well in doing so.
Bollinger Bands consist of a set of three curves drawn in relation to securities prices. The middle band is a measure of the intermediate-term trend, usually a simple moving average, that serves as the base for the upper and lower bands. The interval between the upper and lower bands and the middle band is determined by volatility, typically the standard deviation of the same data that were used for the average. StockInvest.us uses Bollingers suggested 20 day average.
Middle Bollinger Band = 20-period simple moving average
Upper Bollinger Band = Middle Bollinger Band + 2 * 20-period standard deviation
Lower Bollinger Band = Middle Bollinger Band - 2 * 20-period standard deviation
BandWidth defines the current width of the band.
%b defines the current position within the band.
BandWidth = (Upper Bollinger Band - Lower Bollinger Band) / Middle Bollinger Band
%b = (Last - Lower Bollinger Band) / (Upper Bollinger Band - Lower Bollinger Band)
Live Samples:
Bottlenecks in bandwidth indicate an upcoming change. Break up through the moving average line or continuous movements above the moving average line indicate a break up, and vice versa.
Source: http://www.bollingerbands.com
Consolidated Edison Inc stock downgraded from Strong Buy Candidate to Buy Candidate after Thursday trading session.
(Updated on May 02, 2024)
The Consolidated Edison Inc stock price gained 0.475% on the last trading day (Thursday, 2nd May 2024), rising from $94.80 to $95.25. It has now gained 4 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.23% from a day low at $94.46 to a day high of $95.62. The price has risen in 9 of the last 10 days and is up by 4.79% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 48 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $183.29 million.
The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $93.89, a level that may pose a second chance to hit a runner. According to fan-theory $99.36 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.
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ED Signals & Forecast
Mostly positive signals in the chart today. The Consolidated Edison Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $94.13 and $90.63. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 8.96%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.
Support, Risk & Stop-loss for Consolidated Edison Inc stock
On the downside, the stock finds support just below today's level from accumulated volume at $90.33 and $88.94. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Consolidated Edison Inc finds support just below today's level at $90.33. If this is broken, then the next support from accumulated volume will be at $88.94 and $86.67.
This stock is usually traded at a good volume, and with minor daily changes, the risk is considered to be low. During the last day, the stock moved $1.16 (1.23%) between high and low. For the last week, the stock has had daily average volatility of 1.55%.
The Consolidated Edison Inc stock is extremely overbought on RSI14 (76). Normally this may pose a good selling opportunity but since the stock has broken the trend up, the chance for a major correction due to high RSI is very small as the stock will find support at the trend broken.
Our recommended stop-loss: $91.40 (-4.05%) (This stock has low daily movements and this gives low risk. The RSI14 is 76 and this increases the risk substantially. There is a buy signal from a pivot bottom found 12 days ago.)
Trading Expectations (ED) For The Upcoming Trading Day Of Friday 3rd
For the upcoming trading day on Friday, 3rd we expect Consolidated Edison Inc to open at $95.11, and during the day (based on 14 day Average True Range), to move between $93.67 and $96.83, which gives a possible trading interval of +/-$1.58 (+/-1.66%) up or down from last closing price. If Consolidated Edison Inc takes out the full calculated possible swing range there will be an estimated 3.31% move between the lowest and the highest trading price during the day.
With no resistance above and support from accumulated volume @ $90.33, some $4.92 (5.17%) from the current price of $95.25, our system finds the risk reward attractive.
Is Consolidated Edison Inc stock A Buy?
Several short-term signals, along with a general good trend, are positive and the stock has broken the rising trend up, which indicates an even stronger rate of rising. We can conclude that the current level may hold a buying opportunity as there is a fair chance for Consolidated Edison Inc stock to perform well in the short-term period. Due to a possible false trend-break listing stock as pure buy candidate is held back. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Strong Buy to a Buy candidate.
Current score: 4.940 Buy Candidate Downgraded
Predicted Opening Price for Consolidated Edison Inc of Friday, May 3, 2024
| Fair opening price May 3, 2024 | Current price |
|---|---|
| $95.11 ( 0.147%) | $95.25 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for ED
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 96.27 | 1.07 % | |
| R2 | 95.83 | 0.606 % | ||
| R1 | 95.55 | 0.318 % | ||
| Current price: | 95.25 | |||
| Support | S1 | 94.67 | -0.612 % | |
| S2 | 94.39 | -0.90 % | ||
| S3 | 93.95 | -1.36 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 0 | . | |
| R2 | 0 | . | ||
| R1 | 0 | . | ||
| Current price | 95.25 | |||
| Support | S1 | 90.33 | -5.17% | |
| S2 | 88.94 | -6.62% | ||
| S3 | 86.67 | -9.01% |
ED Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Apr 18, 2024 | May 14, 2024 | Jun 14, 2024 | $0.83 | 0.87% |
| 2 | Jan 18, 2024 | Feb 13, 2024 | Mar 15, 2024 | $0.83 | 0.93% |
| 3 | Oct 19, 2023 | Nov 14, 2023 | Dec 15, 2023 | $0.81 | 0.90% |
| 4 | Jul 20, 2023 | Aug 15, 2023 | Sep 15, 2023 | $0.81 | 0.89% |
| 5 | Apr 20, 2023 | May 16, 2023 | Sep 15, 2023 | $0.81 | 0.89% |
FAQ
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