The Chart of the Day belongs to the huge electric utility Consolidated Edison (ED). I found the stock by using Barchart’s powerful screening function to find the stock with the highest Weighted Alpha and technical buy signals that are closest to their 52 week highs, then used the Flipchart function to review the charts for consistent price appreciation. Since the Trend Spotter signaled a buy on 3/3 the stock gained 12.31%. The stock is within .24% of its 52 week high.
Consolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,555 customers in parts of Manhattan. The company also supplies electricity to approximately 0.3 million customers in southeastern New York and northern New Jersey; and gas to approximately 0.1 million customers in southeastern New York. In addition, it operates 533 circuit miles of transmission lines; 15 transmission substations; 64 distribution substations; 87,564 in-service line transformers; 3,924 pole miles of overhead distribution lines; and 2,291 miles of underground distribution lines, as well as 4,350 miles of mains and 377,971 service lines for natural gas distribution. Further, the company owns, operates, and develops renewable and energy infrastructure projects; and provides energy-related products and services to wholesale and retail customers, as well as invests in electric and gas transmission projects. It primarily sells electricity to industrial, commercial, residential, and government customers. The company was founded in 1823 and is based in New York, New York. (Source: Seeking Alpha)
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Analysts and Investor Sentiment — I don’t buy stocks because everyone else is buying but I do realize that if major firms and investors are dumping a stock it’s hard to make money swimming against the tide:
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