Will the Rectangle hold or fail? Plot your targets on the chart.
Sideways movement between parallel supports.
Bearish continuation pattern.
Consolidation. Can break either way.
Technical analysis of Xcel Energy (XEL) reveals a significant setup. Currently at $77.41, the asset is showing downward momentum (-0.06%). Price action has carved out a classic Descending Triangle. Buying pressure is strong relative to the 20-day average. A potential breakout level is identified at $75.59, targeting $70.29 with support near $80.24 (R:R 1.14).
What is your outlook on XEL?