Chart Of The Day: Constellation Energy

Chart Of The Day: Constellation Energy – Renewable Energy

Oct 27, 2023Jeremy ParkinsonFinance0

The Chart of the Day belongs to the renewable energy company Constellation Energy (CEG) . I found the stock by using Barchart’s powerful screening functions to find stocks with the highest technical buy signals, highest Weighted Alpha, superior current momentum and having a Trend Seeker buy signal then used the Flipchart feature to review the charts for consistent price appreciation. CEG Price vs Daily Moving AveragesConstellation Energy Corporation generates and sells electricity in the United States. The company operates through five segments: Mid-Atlantic, Midwest, New York, ERCOT, and Other Power Regions. It sells natural gas, and other energy-related products and services. The company has approximately 32,355 megawatts of generating capacity consisting of nuclear, wind, solar, natural gas, and hydroelectric assets. It serves distribution utilities; municipalities; cooperatives; and commercial, industrial, governmental, and residential customers. The company was incorporated in 2021 and is headquartered in Baltimore, Maryland.Barchart’s Opinion Trading systems are listed below. Please note that the Barchart Opinion indicators are updated live during the session every 20 minutes and can therefore change during the day as the market fluctuates. The indicator numbers shown below therefore may not match what you see live on the Barchart.com website when you read this report. Barchart Technical Indicators:

100% technical buy signals

30.87+ Weighted Alpha

26.97% gain in the last year

Trend Seeker buy signal

Above its 20, 50 and 100 day moving averages

8 new highs and up 3.90% in the last month

Relative Strength Index 52.52%

Technical support level at $111.56

Recently traded at $112.72 with 50 day moving average of $109.66

Fundamental Factors:

Market Cap $36.03 billion

P/E 48.03

Dividend yield .88%

Revenue expected to grow another 2.10% next year

Earning estimated to increase 1,187.80% this year, an additional 16.50% next year and continue to compound at an annual rate of 23.30% for the next 5 years

Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:

Wall Street analyst gave 6 strong buy, 2 buy, and 4 hold opinions on the stock

Analysts’ price targets are between $51 and $125

The individual investors following the stock on Motley Fool voted 7 to 0 for the stock to beat the market with the more experienced investors voting 1 to 0 for the same result

Value Line has a price targets from $78 to $185 with a consensus pf $132

CFRAs MarketScope rates it hold

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