Technical indicators signal a Rectangle forming. Verify the setup on the chart.
Sideways movement between parallel supports.
Bullish continuation if preceding move was up.
Bullish continuation pattern.
Reversal pattern. Price likely to break downwards.
A clear signal has emerged for Edison International (EIX) on the daily chart. Price has moved to $73.59 (0.18%) amidst recent volatility. Algorithmically, a Bullish Flag structure has completed. The trend indicator is reading 6.7/100, suggesting moderate momentum. A potential breakout level is identified at $74.2, targeting $91.49 with support near $69.95 (R:R 4.07).
What is your outlook on EIX?