Will the Descending Triangle hold or fail? Plot your targets on the chart.
Bearish continuation pattern.
Consolidation. Can break either way.
Market participants tracking Xcel Energy should note the latest formation. Price has moved to $79.83 (-0.77%) amidst recent volatility. Price action has carved out a classic Descending Triangle. The trend indicator is reading 20.8/100, suggesting moderate momentum. A potential breakout level is identified at $76.18, targeting $69.09 with support near $83.18 (R:R 1.01).
What is your outlook on XEL?