Dominion Energy Rises 0.84% In Two Days As Technicals Hint At Bullish Reversal

Dominion Energy (D) closed at $54.22 on June 20, 2025, rising 0.07% for a two-day gain of 0.84%. The technical analysis below evaluates key indicators using a 1-year dataset in chronological order.
Candlestick Theory
Dominion Energy shows a potential short-term bullish reversal after the June 17 bearish candle ($53.77 close, -1.75%). The subsequent two green candles, including a June 20 doji (open $54.14, close $54.22), suggest indecision near support at $53.36–$53.59, aligning with the June 17 low. Resistance is evident at $54.77–$55.00, a level tested multiple times in June. A close above $54.77 would signal bullish confirmation, while failure to hold $53.36 may invalidate the reversal pattern.
Moving Average Theory
The 50-day SMA (~$54.40) crossed below the 100-day SMA (~$54.70) in late May, reflecting bearish medium-term momentum. The current price ($54.22) trades below both, reinforcing resistance near $54.40–$54.70. The 200-day SMA (~$54.00) provides underlying support. This configuration—shorter averages below longer ones—indicates persistent downward pressure, though the proximity of all three averages suggests consolidation.
MACD & KDJ Indicators
The MACD histogram shows narrowing negative values since June 17, signaling diminishing bearish momentum as the MACD line converges toward the signal line. The KDJ oscillator’s %K (38) recently crossed above %D (32) from oversold territory, suggesting short-term upside potential. However, both indicators remain near neutral thresholds (KDJ < 50, MACD < 0), lacking strong confirmation of a bullish reversal.
Bollinger Bands
Bands contracted notably in June (20-day width: ~$1.20 vs. May’s ~$2.50), indicating suppressed volatility and foreshadowing a potential breakout. Price currently hugs the lower band (~$53.90), historically a reversal zone (e.g., March/April bounces). A move toward the middle band ($54.40) appears probable, with a close above it potentially triggering expansion and targeting the upper band (~$55.30).
Volume-Price Relationship
Volume surged to 11.5 million shares during the June 17 decline, confirming bearish conviction. The subsequent rebound saw moderate volume (10.1M and 14.4M shares), lacking the climactic participation typical of robust reversals. Notably, the June 20 doji occurred on higher volume than the prior up-day, hinting at accumulation. Sustained gains require volume expansion above the 10-day average (~9.5M shares).
Relative Strength Index (RSI)
The 14-day RSI (36) exited oversold territory (<30) after June 17 but remains below neutrality (50). This aligns with recent price stabilization yet underscores incomplete recovery momentum. Divergence emerged as RSI’s higher low on June 20 contrasted with price’s flat close—a tentative bullish signal. However, RSI must exceed 50 to validate strengthening upside potential.
Fibonacci Retracement
Applying Fibonacci to the May 20 peak ($58.00) and June 17 trough ($53.36): the 23.6% level ($54.37) coincides with the 50-day SMA and current price ceiling. The 38.2% level ($55.12) aligns with June resistance. Confluence exists here as the 50-day SMA and Fibonacci level converge, creating a significant technical hurdle. A break above $55.12 would target the 61.8% level ($55.88), but failure below $54.37 maintains bearish control.
Confluence & Divergence Observations
Confluence exists at $53.35–$53.60 (multi-touch support, Bollinger lower band) and $54.35–$54.70 (50/100-day SMAs, 23.6% Fibonacci). Bullish alignment appears in the KDJ crossover, Bollinger bounce signal, and RSI divergence, though MACD’s negative territory and volume constraints temper optimism. Primary divergence lies between price’s tentative recovery and moving averages’ bearish sequencing, warranting caution despite improving oscillators.