Will the Ascending Triangle hold or fail? Plot your targets on the chart.
Bullish continuation pattern.
Sideways movement between parallel supports.
Consolidation. Can break either way.
Technical analysis of Xcel Energy (XEL) reveals a significant setup. The stock is trading at $81.67, up 1.11% on the day. Price action has carved out a classic Ascending Triangle. The trend indicator is reading 13.4/100, suggesting moderate momentum. A potential breakout level is identified at $82.88, targeting $88.87 with support near $77.98 (R:R 1.22).
What is your outlook on XEL?