Constellation Energy Corp. (CEG US)

Constellation Energy Corporation is a leading American energy provider specialising in carbon-free power generation, nuclear energy operations and large-scale clean-energy solutions for commercial, industrial and residential customers. The company is set to continue benefitting from strong growth in Al as it can provide carbon-free base power (nuclear) to satisfy the high energy demands of the data centres required to support the thematic.

- Analysts: Peet Serfontein, Khumbulani Kunene

Technically, the price is in the Accumulation phase of the Wyckoff Price Cycle (see the insert on the main chart). In this phase, smart money and institutional investors are entering positions and are quietly absorbing supply from weaker holders. This phase reflects a transition from distribution-driven weakness to demand-driven stability.

Stepwise support also lends bullish support to the stock (see the black trendlines marked with Step one and two on the chart). This pattern highlights a market that is consistently forming higher support levels after each pullback, indicating that buyers are stepping in earlier than before. The MACD histogram appears to have reached a downside trough, and the recent volatile upward-sloping trajectory of the on-balance volume (OBV) indicator also supports our bullish view.

Technical analysis