Constellation Energy is still trading within its long-term correction. However, this stock is already in its final leg of this long-term corrective phase. We expect the market to break sustainably below $243.30 in order to reach our defined Fibonacci retracement zone.
Long Entry Levels:
- 61.8% at $158.06
- 78.6% at $105.34
- 88.7% at $73.64
Stop Loss (for active traders): 1% below the zone at $72.89
We expect this zone to bring the long-term correction to a close, finalizing green wave 2 and initiating the next bullish sequence — pushing into a long-term uptrend and forming green wave 3.
However, as Constellation Energy has not yet reached and activated this zone, we anticipate a significant sell-off to occur before this stock activates our Fibonacci retracement zone.
Should anything happen with this stock, we will update you immediately.
Kind regards,
Monalytics
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