Reverting to 40 year trend. Invest in $60s for long-run.
Since 1986, NEE has had a very stable long-term resistance line. In 2019, we broke bullish above this line and have enjoyed "renewable energy euphoria" since then.
However, we have:
(1) VERY CLEAN symmetric round topping going on
(2) We are re-testing and BREAKING BELOW the long-term resistance line. Perhaps we will re-test and call it support
(3) Since December, we have created a new 'ST' resistance line that we've bounced off a few times. This resistance is the RHS of the symmetric topping action going on.
This all said, I think the Worst Case Scenario for NEE is to get back to $55. A 20% dip from current levels ($70) is tough, but for a long-term investment and dividend paying stock,
However, we have:
(1) VERY CLEAN symmetric round topping going on
(2) We are re-testing and BREAKING BELOW the long-term resistance line. Perhaps we will re-test and call it support
(3) Since December, we have created a new 'ST' resistance line that we've bounced off a few times. This resistance is the RHS of the symmetric topping action going on.
This all said, I think the Worst Case Scenario for NEE is to get back to $55. A 20% dip from current levels ($70) is tough, but for a long-term investment and dividend paying stock,