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ED Shares Experience Surge in Value

The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. Consolidated Edison, Inc. shares valued at $14,148 were purchased by HOGLUND ROBERT N on Mar 29 ’24. At $90.81 per share, HOGLUND ROBERT N acquired 156 shares. The insider’s holdings grew to 45,052 shares worth approximately $4.27 million following the completion of this transaction.

Also, Cawley Timothy purchased 80 shares, netting a total of over 7,244 in proceeds. Following the buying of shares at $90.81 each, the insider now holds 86,412 shares.

Before that, Sanchez Robert had added 73 shares to its account. In a trade valued at $6,654, the President & CEO, O&R bought Consolidated Edison, Inc. shares for $90.81 each. Upon closing the transaction, the insider’s holdings increased to 73 shares, worth approximately $1.29 million.

As published in a research note from KeyBanc Capital Markets on January 04, 2024, Consolidated Edison, Inc. [ED] has been rated up from an Underweight to a Sector weight. Analysts at Ladenburg Thalmann started covering the stock with ‘”a Neutral”‘ outlook in a report released in early January. As of October 17, 2023, Wells Fargo has increased its “an Underweight” rating to a “an Equal weight” for ED. Earlier on August 23, 2023, Barclays initiated its rating. Their recommendation was “an Equal weight” for ED stock.

Analyzing ED Stock Performance

During the last five days, there has been a surge of approximately 1.47%. Over the course of the year, Consolidated Edison, Inc. shares have jumped approximately 4.21%. Shares of the company reached a 52-week high of $95.44 on 05/01/24 and a 52-week low of $85.85 on 03/01/24. A 50-day SMA is recorded $89.87, while a 200-day SMA reached $90.04. Nevertheless, trading volume fell to 2.36 million shares from 3.73 million shares the previous day.

Support And Resistance Levels for Consolidated Edison, Inc. (ED)

According to the 24-hour chart, there is a support level at 93.91, which, if violated, would cause prices to drop to 93.02. In the upper region, resistance lies at 95.57. The next price resistance is at 96.33. RSI (Relative Strength Index) is 66.06 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 2.42, which suggests the price will increase in the coming days. Percent R is at 7.96%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

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