Technical Pulse: Duke Energy Corp January 17, 2022 269

Duke Energy Corp (US: CE) Technical price action indicates a bullish return:

 

  1. The breakout of the descending triangle on Dec 2021 indicates a bullish return.
  2. Despite the stock not having a clear defining uptrend, the cup and handle formation is indicative of a bullish continuation pattern.
  3. Key resistance zone at US$104-US$105 is likely to be broken as the rectangle consolidation usually signifies a break based on the dominant direction. In this case, it is the rally that started in mid-November 2021.

 

 

*Expected timeline of the trade is 20 weeks from the date of report issuance

CHART LEGEND

 

Ichimoku Kinko Hyo

Red dotted line = 26 periods Kijun-Sen

Blue dotted line = 9 Periods Tenkan-Sen

Green Line B= 52 periods Senkou Span B

Pink Line A = 26 periods Senkou Span A

Black line = 26 periods Chikou Span. Lagging line

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