Tuesday, December 12, 2017 12:06:43 PM
Edison International (NYSE:EIX) is a leading public utility with a major presence in Southern California. The stock has been declining sharply since the wild fires began in the Los Angeles area last week. On December 1st, 2017, EIX stock was trading as high as $81.96 a share. Traders should note that the stock is now trading around $68.00 a share as the wildfires in Southern California continue to spread. The stock is now trading below its important 50 and 200-day moving averages. This chart pattern indicates weakness in the equity and potentially further downside.
The next major support area for EIX will be around the $62.00 level. This is where the stock should be defended by the institutional money. In February 2016, EIX stock broke out from this area. Very often, when falling stocks retest there prior break-out levels they will be supported and defended. This is a trade area where I will look to get involved in the stock on the long side. I will be trading the stock by buying the equity or by buying call options in the name.
Nicholas Santiago
InTheMoneyStocks
Recent EIX News
- California’s Clean Energy Future: Net Zero by 2045 is Within Reach • Business Wire • 09/24/2024 01:15:00 PM
- Edison International, Southern California Edison Declare Dividends • Business Wire • 09/23/2024 10:00:00 PM
- Southern California Edison and Ford Team Up to Reward Electric Vehicle Customers for Supporting the Grid • Business Wire • 09/10/2024 04:04:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/27/2024 05:24:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/26/2024 04:39:58 PM
- Edison International, Southern California Edison Declare Q3 Dividends • Business Wire • 08/22/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/02/2024 02:57:34 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/01/2024 04:24:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 07/29/2024 08:18:02 PM
- Form S-3ASR - Automatic shelf registration statement of securities of well-known seasoned issuers • Edgar (US Regulatory) • 07/25/2024 09:03:22 PM
- Edison International Reports Second-Quarter 2024 Results • Business Wire • 07/25/2024 08:05:00 PM
- Rockefeller Foundation's Economic Opportunity Coalition Announces New Chair & 3 Additional Fortune 500 Companies • PR Newswire (US) • 07/19/2024 03:16:00 AM
- Edison International Announces 12 Lineworker Scholarship Recipients • Business Wire • 07/16/2024 06:21:00 PM
- Edison International Declares Q2 Dividend • Business Wire • 06/26/2024 08:06:00 PM
- Advisory for Thursday, July 25: Edison International to Hold Conference Call on Second Quarter 2024 Financial Results • Business Wire • 06/26/2024 08:05:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 09:06:37 PM
- Southern California Edison, Lotus Infrastructure Partners Chosen by CAISO to Build Major Transmission Project Between San Diego, Orange Counties • Business Wire • 05/20/2024 10:12:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/16/2024 04:54:46 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/15/2024 04:53:33 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 05/13/2024 08:47:17 PM
- Form 144 - Report of proposed sale of securities • Edgar (US Regulatory) • 05/10/2024 08:33:19 PM
- Southern California Edison Announces Redemption of SCE Series E Preference Stock • Business Wire • 05/07/2024 06:32:00 PM
- Edison International Reports First-Quarter 2024 Results • Business Wire • 04/30/2024 08:05:00 PM
- Southern California Edison Declares Dividends • Business Wire • 04/25/2024 08:27:00 PM
- Statewide Partnership Aims to Deliver More Clean Energy Faster to Californians and Support State Climate Goals • PR Newswire (US) • 04/18/2024 05:30:00 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM