Constellation Energy Rises 2.54% to $330.90 Extending Two-Day Gain to 3.00%

Constellation Energy (CEG) closed at $330.90 in the most recent session, rising 2.54% and extending its gains to 3.00% over two consecutive trading days. This upward movement occurs against a backdrop of significant volatility observed since late 2024 when the stock traded near $255, ultimately achieving a peak of $354.89 in early August 2025 before correcting.
Candlestick Theory
Recent sessions show bullish resilience, with September 19 forming a robust green candle closing near the session high ($330.90 vs. high of $331.86) after dipping to $319.76. This follows a hammer-like pattern on September 18 (low: $319.59, close: $322.71), suggesting rejection of lower prices. Key support now resides at $316–$319, anchored by September 17–18 lows. Resistance is evident at $332.50–$335, reinforced by the September 15–16 highs ($334.86 and $332.86). A decisive close above $335 would signal bullish continuation.
Moving Average Theory
The price trades above all key moving averages (50-day: ~$320, 100-day: ~$310, 200-day: ~$280), confirming a long-term uptrend. The 50-day SMA recently provided support during the September pullback to $296, while the ascending 50 > 100 > 200-day hierarchy signals sustained bullish momentum. Current price positioning above these averages suggests underlying strength, though a sustained break below $320 would warrant caution.
MACD & KDJ Indicators
The MACD histogram turned positive in mid-September, reflecting bullish momentum acceleration as prices rebounded from $296. Concurrently, the KDJ oscillator exited oversold territory (KDJ < 30 in early September) and now approaches overbought levels (K: 75, D: 70, J: 85). While this implies near-term exhaustion risk, the MACD’s bullish crossover and rising histogram suggest momentum favors upside continuation absent bearish divergence.
Bollinger Bands
Bollinger Bands expanded sharply during the September rally, with price touching the upper band ($331.86) on September 19—a sign of strong directional conviction. The bandwidth remains wider than mid-August levels, indicating elevated volatility supportive of trend continuation. Near-term support aligns with the 20-day moving average (middle band, ~$315), while a close above the upper band may precede consolidation.
Volume-Price Relationship
Volume surged 97% on September 19 (3.42M shares vs. 1.73M prior), validating the breakout above $325. Earlier, the 6.38% rally on September 10 was confirmed by a volume spike (4.04M shares), underscoring institutional accumulation. Conversely, the September 16–17 decline occurred on below-average volume, suggesting limited conviction. Accumulation/distribution trends support the current advance.
Relative Strength Index (RSI)
The 14-day RSI (~68) approaches overbought territory (70+) but remains below definitive warning levels. Historically, RSI readings above 75 in early August preceded a pullback, but the current reading reflects improving momentum without extreme overextension. A surge above 75 could signal overheating, though RSI divergences remain absent currently.
Fibonacci Retracement
Using the August 4 high ($354.89) and September 9 low ($296.35), key retracement levels are: 23.6% ($310), 38.2% ($318.70), 50% ($325.60), and 61.8% ($332.50). The stock has exceeded the 50% threshold and now challenges the critical 61.8% resistance ($332.50). A decisive close above this level could catalyze a move toward the 78.6% retracement ($340). Failure here may trigger profit-taking toward $318–$322 support.
Confluence and Divergence Observations
Confluence is notable at $332–$335, where Fibonacci resistance, the September swing high, and Bollinger Band extremes converge—making this a pivotal breakout zone. No significant divergences exist; momentum oscillators (MACD, RSI), volume, and moving averages align bullishly. The KDJ’s proximity to overbought territory warrants monitoring, but no bearish crossover or divergence is yet present.
In summary, Constellation Energy exhibits bullish momentum supported by volume and moving averages. The $332.50–$335 resistance zone represents the critical test—breaching it may accelerate gains toward $354. Traders should watch for volume contraction or bearish candlestick patterns near resistance, which could signal consolidation. The technical posture remains constructive below $316 support.