Constellation Energy (NYSE:CEG) crossed under its 10-day moving average of $36.21 on a volume of 496K shares. Swing traders may find an opportunity for a short position, as such a crossover often suggests lower prices in the near term.
Constellation Energy has overhead space with shares priced $35.97, or 14.4% below the average consensus analyst price target of $42.00. Constellation Energy shares should first meet resistance at the 200-day moving average (MA) of $37.69 and find additional resistance at the 50-day MA of $38.49.
Constellation Energy Group Inc. is public utility holding company. The Company, through its subsidiaries, develops, owns, and operates electric generation facilities located in various regions of the United States as well as operates an electric transmission and distribution utility company and a gas distribution utility company.
In the past 52 weeks, Constellation Energy share prices have been bracketed by a low of $29.70 and a high of $40.97 and are now at $35.97, 21% above that low price. In the last five trading sessions, the 50-day moving average (MA) has fallen 0.8% while the 200-day MA has risen 0.2%.
