Saturday, June 21, 2008


Con Ed

ED, increased steadily from its May 2004 low, around $32 a share, while staying in a nice Uptrend that held support a number of times at the BLUE uptrend support line... Made a clear year-long DOUBLE TOP around $49 a share throughout 2007 and then proceeded to crash through uptrend support... Rebounded off that down move only yo be rebuffed by the SINGER MOVING AVERAGE BAND which provided staunch resistance...Needs to hold the $39 level...

National Grid

NGG in contrast with ED has essentially been in a steady uptrend since 2004. It acquired Northeast Utility giant Keyspan in 2007 and has held up relatively well, although the stock is in danger of breaking through the BLUE uptrend support, as its upside has been trapped by a down sloping resistance line thous forming a triangle pattern.


PNR is a water company, so not technically a utility company but worth a look... This company has been trading in a wide range between $24 and $44 a share. Each time it has reached the far end of a range it fails to break out and retreats in the other direction... Recently failed around $39 at the top end of the range and looks poised to travel back to the BLUE DASHED MIDLINE at the very least...

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