Last month, I posted on DTE Energy Company or DTE as listed in the New York Stock Exchange regarding the triangle formation setting up in its stock chart (kindly check here). Right now, the setup looks clearer and riper compared to when I last posted about it. The 3-month triangle shown on the image will most likely be bullish as it’s coming from an uptrend. If the stock price breaks above the triangle’s resistance at $49.06, it could move higher but will face some selling pressure at $51.15. If the $51.15 price mark gets cleared out, the next resistance could be $54.74. The possibility of the price breaking down from the triangle’s support is slimmer compared to the price breaking above the triangle’s resistance but in case it does and passes below the triangle’s support, $45.60 could be the next. If it further drops below the $45.60 marker, the next support could be $44.00.
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