Exelon Corporation shares price was heavily penalized and now is in an oversold situation next to a solid support area.
Technically, in daily datas, if the moving averages are still trending downward, the positive reaction on the level of 37.9 USD should stop this trend and allow to aim that scenario of a technical rebound towards the 41.4 USD.
In addition, the technical indicators show an oversold condition which reinforces this upward prevision.
According to surperformance rating, the company shows an interest fundamental situation in a trading strategy. It has a good compromise between its value and visibility.
In addition, brokers have recently revised upward their earnings estimates and expect on earnings for share of 9.01 for this year.
Therefore, we might consider the support's proximity of 37.88 USD as an opportunity to buy Exelon Corporation 's share. We will aim at first target price of 41.4 USD that is potential gain of 4.2%. Only if the security overcomes this resistance's level we could forecast an upwards trend.
We should cover the position with a stop loss under the support's level already tested.