Public Service Enterprise Group Incorporated (PEG)

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Stock Price History

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Our View

Public Service Enterprise Group (PEG) is New Jersey’s largest and oldest investor-owned utility company. It services over 1.8 million gas customers and 2.2 million electric customers across areas that include New Jersey’s six largest cities. PEG operates in regulated utility business, and utility companies enjoy key competitive advantages like high entry and regulatory barriers. Therefore, the future growth trajectory for PEG can be expected to be very steady and predictable.

The long-term monthly chart for PEG shows a consistent uptrend since 2013. The price has ranged between a clear channel for the most part except in early 2020 when the price fell by close to 45% and broke the bottom of this channel. Since then, the price has bounced back up and found support at the bottom trend line. There was a mini-retracement towards the end of 2020, but the price bounced back again in March 2021. A long position can be initiated with a target of $62. A minimum stop loss can be placed below the bottom trend line, around $52.

Position entered into our long-term tracking portfolio today. The entry point is at $57.44 and stop-loss is placed at $46.18, which is 20% below the entry point. The short-term to medium take profit at the top of the trend is set at $69, giving a profit of 20%.

Data Explained

On the video and images above you will see the reason this stock was selected.

You will see the image is of a monthly chart of the stock showing the long-term upwards trend formed over the years. You will also see the entry point and the where the stop loss is placed. For more information please watch the video given.

Once it is time to move the original stop loss up you will see an additional image.

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