Traders are watching this Rectangle on NEE. Inspect the chart now.
Sideways movement between parallel supports.
Bearish continuation if preceding move was down.
Bearish continuation pattern.
Market participants tracking NextEra Energy should note the latest formation. Price has moved to $86.75 (1.19%) amidst recent volatility. Price action has carved out a classic Bearish Flag. Volume is strong (1.59x avg) with moderate trend strength (2.6). A potential breakout level is identified at $82.96, targeting $67.89 with support near $87.57 (R:R 3.27).
What is your outlook on NEE?