Technical indicators signal a Rectangle forming. Verify the setup on the chart.
Sideways movement between parallel supports.
Gradual reversal from bearish to bullish.
Bullish continuation pattern.
Consolidation. Can break either way.
Technical analysis of Edison International (EIX) reveals a significant setup. Price has moved to $71.89 (1.4%) amidst recent volatility. Price action has carved out a classic Rounding Bottom. Volume is strong (2.05x avg) with moderate trend strength (15.2). A potential breakout level is identified at $73.83, targeting $82.64 with support near $69.42 (R:R 2.0).
What is your outlook on EIX?