CEG shows an inverted head and shoulders pattern with price at the neckline; it is a near-term breakout candidate targeting just under $400, despite potential resistance at $345.

This stock had news today. CEG stock. They announced a $4.3 billion deal with Google to supply it with power.

Okay, let's go back to this graph. CEG, you can see that I have identified an inverted head and shoulders pattern. Look where the price closed today, guys, right at the neckline.

This makes CEG a near-term breakout target that should be watched.

Well, we didn't achieve a breakthrough today. So, tomorrow resets today's clock because we didn't close it over. So, will we close above this neckline tomorrow? It's not far off, guys.

We're talking about about $29. Sorry, $300.41 . After the market closed. We are currently trading lower on CEG stock. We'll see if we can get back to this descending neckline on the chart, but this will be the main breakout area for CEG stock.

Note that I set a measured movement for the inverted head and shoulders pattern to just under $400. Therefore, we can make significant gains in CEG stock.

Now , let me step back a little to clarify the picture. Even if we get a confirmed close in the next two days, we will not be climbing in a straight line towards that target. Instead, you can see that I have this beautiful parallel ascending channel.

This destination will act as resistance here on the chart, at $345, which is the 50% zone of that parallel channel. I can even envision a scenario where we return to the pivot peaks we already tested at $327, and then see some slowdown there as well.

But there is a potentially large move looming for CEG stock; pinpoint it on your charts. Set some alerts. I know I did that because I'm going to see if I can take advantage of this once there's a good breakout and pullback to grab a portion of that $100 move down to $391.