Google power deal may trigger breakout from consolidation for CEG.

Let's talk about the company "Constellation Energy". The company's shares rose in pre-market trading based on a Bloomberg report.

Google has signed a massive 3.59 gigawatt power deal with Constellation Energy. This will be implemented in stages over time. The immediate deal is worth about 900 megawatts that will come into service through some of its nuclear reactors that will be upgraded.

Constellation plans to spend approximately $4.3 billion to boost production from 11 existing nuclear units. This includes the states of Illinois, Pennsylvania, and New Jersey.

But the second deal is a long-term, 20-year agreement to provide an additional 2.7 gigawatts of power to the company, again, in phases . Therefore, Constellation has seen a good and positive flow of news over the past few hours or days . We see the stocks up by approximately 6% .

So, it's an interesting deal . Let's see if it will be able to achieve a price breakout as well. Constellation has also maintained a consolidation pattern over the past two months .

This type of news could push the stock to break out of its consolidation range and move upwards .