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PNM Stock Tickeron detected bearish Stock Pattern: Head-and-Shoulders Top on March 05, 2024

A.I.dvisor
at Tickeron.com
03/07/24
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Head-and-Shoulders Top
PNM - PNM Resources
Tickeron
Emerged: 03/05/24
Breakout: $36.4
Price: $37.39
Target price: $34.78
A.I.dvisor detected a bearish Head-and-Shoulders Top pattern for PNM stock. This pattern was detected on March 05, 2024 . The odds of reaching the target price are 6. The pattern forms with a center peak (the Head, labeled 3) and left and right Shoulders (1, 5). Eventually the security stops testing highs and reverses trend into a decline. Consider selling a security short before it declines or buying a put option to benefit from the price decline. To improve success chances, wait for a confirmation move: allow the price to break below the Neckline level (2, 4), which is calculated as the average of the two lows between the Head and the Shoulders.
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Daily Signalchanged days ago
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General Information

a company which generates and distributes electricity and natural gas

Industry ElectricUtilities

Profile
Fundamentals
Details
Industry
Electric Utilities
Address
414 Silver Avenue SW
Phone
+1 505 241-2700
Employees
1600
Web
https://www.pnmresources.com