Duke Energy Signal 29/09: Should You Power Up? (Chart)
(MENAFN- Daily Forex) Long Trade IdeaEnter your long position between $121.33 (the upper band of its horizontal support zone) and $123.45 (Friday's intra-day high).Market Index Analysis
- Duke Energy (DUK) is a member of the S&P 100 and the S&P 500 indices. Both indices remain near record highs, but breakdown signals have risen. The Bull Bear Power Indicator for the S&P 500 shows a negative divergence and does not confirm the uptrend.
- The DUK D1 chart shows price action breaking out above its horizontal support zone. It also shows price action below its ascending Fibonacci Retracement Fan. The Bull Bear Power Indicator turned bullish with an ascending support level. The average bullish trading volumes are higher than the average bearish trading volumes during the breakout week. DUK failed to match the record highs of the S&P 500, a bearish signal, but its recent breakout could lead to more upside.
- DUK Entry Level: Between $121.33 and $123.45 DUK Take Profit: Between $131.25 and $133.88 DUK Stop Loss: Between $117.45 and $118.90 Risk/Reward Ratio: 2.56

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