CEG's recent decline is an overreaction expected to continue subsiding; not a high priority buy now.
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Yes, we were just talking about the energy battle with CEG, Constellation. Because I just mentioned it, it is up 11%, and I already knew we would be coming to you, so I briefly mentioned an anchored VWAP.
But we have had good support here at Constellation, in the 240 to 250 area. We are back to the highlights of May here at Constellation. And once again, very news-based, I believe they closed the deal with Amazon today for a 20-year power license for all those data centers.
Constellation, do you see anything on this? To me, it looks like there might have been some exhaustion around 311, 312. How does it look to you?
I agree with you, Sean. It was probably, you know, in a downward trend below the 20-, 50-, and the declining 200-day moving averages. We have now experienced a major overreaction, and it will probably subside further.
We are clearly below today's volume-weighted average price, so the average participant who entered here today is losing money on the long side. And I think it might be good news for the whole situation, but you will probably need to see that it can sink in for a few days. So, not really a high priority at the moment.
What this channel has said about $CEG
Brian Shannon has only this one call on this stock.