Traders are watching this Rectangle on NEE. Inspect the chart now.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Technical analysis of NextEra Energy (NEE) reveals a significant setup. The stock is trading at $91.31, down 1.07% on the day. The primary technical feature is a Descending Triangle formation. Buying pressure is average relative to the 20-day average. A potential breakout level is identified at $89.17, targeting $82.13 with support near $96.21 (R:R 1.0).
What is your outlook on NEE?