Skip to main content

Entergy Corp. (Friday’s close US$112.65) rallied from US$71.95 in February, 2018, to US$135.55 in February, 2020 (A-B), above a rising 40-week Moving Average (40wMA). In March, 2020, the stock had a major breakdown and fell below its 40wMA (C), but quickly reversed and started a large horizontal trading pattern mostly between US$90 and US$113 (dashed lines).

While in this range, its 40wMA also reversed in early 2021 (D) and supported the recent corrective move at US$100 (E). A sustained rise above US$114-$115 would signal a breakout and the start of a new uptrend. There is good support at the 40wMA near US$105-$107; only a sustained decline below this level would cancel the current upside potential.

Point & Figure measurements provide targets of US$125 and US$140. The large trading range (dashed lines) supports higher targets.

Open this photo in gallery:

stock

Monica Rizk is the senior Technical Analyst and Ron Meisels is the president of Phases & Cycles Inc. (www.phases-cycles.com). And he tweets at @Ronsbriefs. They may hold shares in companies profiled.

Chart source: www.decisionplus.com

Be smart with your money. Get the latest investing insights delivered right to your inbox three times a week, with the Globe Investor newsletter. Sign up today.

Report an editorial error

Report a technical issue

Editorial code of conduct

Tickers mentioned in this story

Study and track financial data on any traded entity: click to open the full quote page. Data updated as of 21/11/24 4:10pm EST.

SymbolName% changeLast
ETR-N
Entergy Corp
+0.56%151.55

Follow related authors and topics

Authors and topics you follow will be added to your personal news feed in Following.

Interact with The Globe