April

Resistance

<ul class="list-ic vertical">
 <li><span>1</span> <a>WEC stock price is preparing to reach the $100 mark after breaking out of the falling pattern.</a></li>
 <li><span>2</span> <a>WEC Energy shares are trying to remain above 20-EMA to reach the 50, 100 and 200-days daily moving averages.</a></li>
 <li><span>3</span> <a>WEC Energy Group Inc. (NYSE: WEC) stock slumped around 11.32% year to date.</a></li>
</ul>
<p>WEC stock price may break out of the falling pattern to reach the $100 mark as buyers provide desired support. However, WEC shares may decline from the upper trendline of the declining pattern over the daily time frame chart. WEC share price has been falling through an interesting descending parallel channel since April 2023. Now buyers need to accumulate at a higher rate in order to push WEC upwards.</p>
<p>WEC shares are trying to sustain at 50-EMA to reach the 100 and 200-days daily moving averages. As of now, the 50-EMA line is playing as a resistance because sellers were getting involved in the trade during Wednesday’s trading session.</p>
<p>WEC stock price was $83.01 and shed 0.50% of its market capitalization during Wednesday’s trading session. Trading volume is below average, highlighting a&nbsp; a low accumulation rate. This demonstrates that buyers need to accumulate at a higher rate during Thursday’s trading session.</p>
<h2 class="wp-block-heading" id="strong-wec-stock-price-roadmap-to-100-strong"><strong>WEC Stock Price Roadmap to $100</strong></h2>
<div class="wp-block-image">
 <figure class="aligncenter"><img decoding="async" src="https://lh7-us.googleusercontent.com/ysvZrYN7xjjBDTHfpFdqZ_ccz2uxovHOPFvL8ZCM0t6Gun0l_mVlLwVpFHB3xBI7R1m2Z8BLOYTxRdgK8l6fnHfyDZN63BhXcDkrJ4Hx48JTNBua4cJlY0nU2WF1D0IBUtycsdYv6CTNjxARvcXdf0E" alt="WEC Energy Group Inc.: Is WEC Stock Price Ready For $100 Mark?">
  <figcaption class="wp-element-caption">
   Source: NYSE: WEC by <a href="https://www.tradingview.com/x/pOpLD73M/" rel="noopener noreferrer nofollow">TradingView</a>
  </figcaption>
 </figure>
</div>
<p>WEC stock price has been falling through a descending parallel channel over the daily time frame chart. Buyers tried to push WEC shares towards the upper trendline of the declining pattern to register its breakout. However, sellers jumped in between yesterday to initiate the selloffs. Volume change was below average which signifies that buyers may accumulate today to push WEC shares for its breakout.&nbsp;</p>
<p>For WEC stock to reach the $100 mark it must follow through a plan of action to recover towards the $100 recovery level. At first WEC shares need to break out from the $87.50 resistance to register its breakout from the descending parallel channel. After that WEC shares move towards the $92.60 to register its breakout and continue to surge for the $95.00 mark. This will confirm the halfway recovery of WEC stock during its journey towards the $100 mark.&nbsp;</p>
<p>Afterwards,<a href="https://www.thecoinrepublic.com/2023/06/30/as-wec-stock-nears-52-week-low-investors-consider-selling/" rel="noopener noreferrer nofollow"> WEC share price </a>must break out of the $97.50 resistance following mild consolidation to reach the $100.15 mark. This was the expected path for WEC stock price to reach the $100 mark as soon as it breaks out of the declining parallel channel.</p>
<p>Technical indicators highlight the downtrend of WEC shares after gaining from the $75.47 mark. Relative strength index shows the downward momentum of WEC Energy stock. RSI was at 51 and is trying to remain above neutrality. Investors in WEC Energy Group Inc. (NYSE: WEC) needs to wait for any directional change over the daily time frame chart.</p>
<h4 class="wp-block-heading"><strong>Summary</strong></h4>
<p>WEC stock price may break out of the falling pattern to reach the $100 mark as buyers provide desired support. Meanwhile, WEC shares are trying to sustain at 50-EMA to reach the 100 and 200-days daily moving averages. Technical indicators highlight the downtrend of WEC shares after gaining from the $75.47 mark.</p>
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4>
<p>Support Levels: $82.15 and $80.60</p>
<p>Resistance Levels: $84.60 and $87.50</p>
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5>
<p>The views and opinions stated by the author, or any people named in this article, are for informational purposes only, and they do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.</p>

WEC Energy Group Inc.: Is WEC Stock Price Ready For $100 Mark?

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