Live monitoring of the Rectangle setup on ED. See where price is heading.
Sideways movement between parallel supports.
Reversal pattern. Price likely to break downwards.
Consolidation. Can break either way.
Bullish continuation if preceding move was up.
Bullish continuation pattern.
Technical analysis of Consolidated Edison (ED) reveals a significant setup. With a last close of $111.66, volatility remains active (-0.21%). Price action has carved out a classic Bullish Flag. Volume is average (0.53x avg) with moderate trend strength (14.2). A potential breakout level is identified at $115.86, targeting $131.63 with support near $110.48 (R:R 2.93).
What is your outlook on ED?