Thread by @malteseinvest

Analysis: #NYSE $PEG

Case 468 #PublicServiceEnterprise Group Incorporated

Requested by: @Andrea27345585

DISCLAIMER: The analysis is strictly for educational purposes and should not be construed as an invitation to trade.

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Chart 1
Monthly Chart: The large declines seen in Q1 2020 found buyers around the #SMA 200 and Fib. 0.50 at 37.83- 36.84 respectively. Current conditions are restricted within the triangle and #momentum is negative and on stall. .....

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..... Immediate #resistance is 55.53 (Jan. 2020 trendline) with #pivot resistances at 55.94- 56.87 (SMA 20 containing at 56.24, then synthetic resistance sloping at 60.13. Further up the Jan. 2008 #trendline at 65.01 but long term #bullish control is .....

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..... only seen on a close/hold above 66.47. #Support begins on the May 2020 trendline, a close below could (eventually) re-target the #confluence of support of #Fib. 0.382 and Oct. 2008 trendline at 43.17- 42.64

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Chart 2
Daily Chart: The main SMAs are showing indecision.

The #Strategy is printed on the image.

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