Edison International : Close to a major long term resistance level
Entry price | Target | Stop-loss | Potential |
---|
$74.32 |
$68.7 |
$77.1 |
+7.56% |
---|
Below the resistance levels that are currently being tested and which are situated around 75.88 USD, the beginning of a correction phase for shares in Edison International appears to be the most likely scenario.
Weaknesses● Stock prices approach a strong long-term resistance in weekly data at USD 75.88.
● The stock is close to a major daily resistance at USD 76.36, which should be gotten rid of so as to gain new appreciation potential.
● One of the major weak points of the company is its financial situation.
● The group usually releases earnings worse than estimated.
● With an enterprise value anticipated at 3.48 times the sales for the current fiscal year, the company turns out to be overvalued.
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