• Subscribe
  • Log In
  • Home
  • Daily Diary
  • Asset Class
    • U.S. Equity
    • Fixed Income
    • Global Equity
    • Commodities
    • Currencies
  • Sector
    • Basic Materials
    • Consumer Discretionary
    • Consumer Staples
    • Energy
    • Financial Services
    • Healthcare
    • Industrials
    • Real Estate
    • Technology
    • Telecom Services
    • Transportation
    • Utilities
  • Latest
    • Articles
    • Video
    • Columnist Conversations
    • Best Ideas
    • Stock of the Day
  • Street Notes
  • Authors
    • Bruce Kamich
    • Doug Kass
    • Jim "Rev Shark" DePorre
    • Helene Meisler
    • Jonathan Heller
    • - See All -
  • Options
  • RMPIA
  • Switch Product
    • Action Alerts PLUS
    • Quant Ratings
    • Real Money
    • Real Money Pro
    • Retirement
    • Stocks Under $10
    • TheStreet
    • Top Stocks
    • TheStreet Smarts
  1. Home
  2. / Investing
  3. / Stocks

Constellation Energy Could Power 20% Higher From Here

Shares of the clean energy power generator have rallied since going public in January.
By BRUCE KAMICH
May 20, 2022 | 07:34 AM EDT
Stocks quotes in this article: CEG

In his first "Executive Decision" segment of Thursday evening's Mad Money program, Jim Cramer spoke with Joe Dominguez, president and CEO of Constellation Energy (CEG) , the power generator that accounts for a full 10% of our country's clean energy production.

Dominguez said that Constellation generates more clean energy than the next two utilities combined, thanks to its 23 nuclear facilities and hydro power plants.

The energy business has always been about balancing supply and demand, and renewable energy just can't deliver power 24 hours a day. That's what makes the next generation of smaller, modular nuclear reactors so exciting. They can meet America's needs in a clean, safe manner.

When asked about safety, Dominguez admitted that nuclear accidents have an outsized impact on public perception. Nuclear is still the safest form of energy today, and the next generation of reactors will only improve on that record.

Let's check on two charts and some indicators.

In the daily Japanese candlestick chart of CEG, below, we can see that the shares have rallied since going public in January. Not a lot of price history to work with but we can see a bottom reversal pattern earlier this month to mark the low of an April-May pullback. Prices are slightly below the declining 20-day moving average line and just below the rising 50-day line.

The On-Balance-Volume (OBV) line rose from late February to April and then moved sideways and stands only slightly below its best levels. A new high in the OBV line soon will be a positive for the stock.

In this daily Point and Figure chart of CEG, below, we can see a potential upside price target in the $73 area.

Bottom-line strategy: Traders could probe the long side of CEG at current levels risking a close below $52 for now. Our price targets are $68 followed by $73.

Get an email alert each time I write an article for Real Money. Click the "+Follow" next to my byline to this article.

Employees of TheStreet are prohibited from trading individual securities.

TAGS: IPOs | Investing | Stocks | Technical Analysis | Energy | Utilities | ESG Investing

More from Stocks

General Mills Could Struggle to Make New Highs

Bruce Kamich
Mar 23, 2023 1:45 PM EDT

The volume indicators do not confirm recent gains.

Ford Shares Could Start to Go Downhill

Bruce Kamich
Mar 23, 2023 12:10 PM EDT

Let's see what the charts look like.

Block Stock Sinks Like a Rock After Hindenburg Report

Bruce Kamich
Mar 23, 2023 11:00 AM EDT

Here's what traders should do now.

There's a Lot to Chew on Here, But Chewy Stock Is a Work in Progress

Stephen Guilfoyle
Mar 23, 2023 10:45 AM EDT

At a minimum it belongs on a watch list.

3 Bombshells That Rocked the Market

Ed Ponsi
Mar 23, 2023 9:30 AM EDT

Between Powell and Yellen it was quite a day. And what a reaction we got.

Real Money's message boards are strictly for the open exchange of investment ideas among registered users. Any discussions or subjects off that topic or that do not promote this goal will be removed at the discretion of the site's moderators. Abusive, insensitive or threatening comments will not be tolerated and will be deleted. Thank you for your cooperation. If you have questions, please contact us here.

Email

CANCEL
SUBMIT

Email sent

Thank you, your email to has been sent successfully.

DONE

Oops!

We're sorry. There was a problem trying to send your email to .
Please contact customer support to let us know.

DONE

Please Join or Log In to Email Our Authors.

Email Real Money's Wall Street Pros for further analysis and insight

Already a Subscriber? Login

Columnist Conversation

  • 05:00 PM EDT CHRIS VERSACE

    AAP Podcast on the Fed Decision!

    Listen here!
  • 02:38 PM EDT REAL MONEY

    Fed Hikes Rates 25 Basis Points

    Here's what stood out in the statement.
  • 10:28 AM EDT JAMES "REV SHARK" DEPORRE

    This Weekend on Real Money

    There are exceptions to conventional trading wisdo...
  • See More

COLUMNIST TWEETS

  • A Twitter List by realmoney
About Privacy Terms of Use

© 1996-2023 TheStreet, Inc., 225 Liberty Street, 27th Floor, New York, NY 10281

Need Help? Contact Customer Service

Except as otherwise indicated, quotes are delayed. Quotes delayed at least 20 minutes for all exchanges. Market Data & Company fundamental data provided by FactSet. Earnings and ratings provided by Zacks. Mutual fund data provided by Valueline. ETF data provided by Lipper. Powered and implemented by FactSet Digital Solutions Group.

TheStreet Ratings updates stock ratings daily. However, if no rating change occurs, the data on this page does not update. The data does update after 90 days if no rating change occurs within that time period.

FactSet calculates the Market Cap for the basic symbol to include common shares only. Year-to-date mutual fund returns are calculated on a monthly basis by Value Line and posted mid-month.

Compare Brokers

Please Join or Log In to manage and receive alerts.

Follow Real Money's Wall Street Pros to receive real-time investing alerts

Already a Subscriber? Login