PG&E Stock Jumps 3.67% as Technicals Signal Potential Reversal Near Key Support

Pacific Gas and Electric (PG&E) stock rose 3.67% in the most recent trading session (2025-09-26), closing at $14.97 on volume of 23.7 million shares. This bullish momentum occurred near the lower boundary of the stock's recent range, warranting a multi-indicator technical assessment.
Candlestick Theory
Recent sessions show a potential reversal pattern emerging. The 09-25 and 09-26 candles formed a bullish engulfing configuration near the $14.45 support level, with the latter's high ($14.99) testing August resistance. Key support is established at $14.45 (09-26 low) and $14.33 (08-04 swing low), while resistance converges at $15.04-15.09 (September highs) and the $15.73 September peak.
Moving Average Theory
The 50-day moving average (currently near $15.20) caps recent rallies, maintaining bearish pressure as prices trade below this threshold. The 100-day MA ($15.80) and 200-day MA ($16.40) exhibit sustained downward slopes, confirming the dominant long-term downtrend. A bullish crossover catalyst would require sustained closes above the flattening 50-day MA.
MACD & KDJ Indicators
The MACD histogram shows diminishing negative momentum, with the signal line attempting to bottom near -0.35. Concurrently, the KDJ oscillator exited oversold territory (09-25 KDJ reading: 18) and is curling upward at 40, suggesting waning downward pressure. Neither indicator yet confirms a decisive bullish reversal, requiring MACD crossover and KDJ sustainment above 50 for validation.
Bollinger Bands
The bands contracted notably in late September (20-day bandwidth: $0.80 vs $1.40 in August), indicating reduced volatility and potential energy accumulation. The 09-26 close near the lower band followed by a rejection of the $14.45 support suggests a volatility expansion attempt upward. Continued acceptance above the midline ($15.00) would reinforce bullish breakout potential.
Volume-Price Relationship
The September rebound from $14.45 saw volume expand 45% above the 20-day average (23.7M vs 16.4M), lending credibility to the support test. However, distribution days marked September's decline from $15.73, including a high-volume (-3.51%) down day on 09-08. Sustainable recovery requires continued volume confirmation on up days.
Relative Strength Index
The 14-day RSI rebounded from oversold territory (09-25: 28.5) to 47.5, neutralizing immediate downside momentum without reaching overbought. The indicator's warning nature is evident as August's downtrend persisted through multiple oversold readings, warranting confirmation through RSI sustainment above 50 alongside price strength.
Fibonacci Retracement
Applying Fib levels to the recent upswing from the 07-15 low ($12.97) to the 09-11 peak ($15.73) reveals critical confluences. The 50% retracement ($14.35) nearly aligned with the 09-26 low ($14.45), attracting buyers. The 61.8% level ($13.56) remains major support, while overcoming the 38.2% resistance ($15.08) may signal trend resumption.
Confluence and Divergence Observations
Confluence appears at $14.35-14.45 (50% Fib, major horizontal support, and Bollinger lower band) where buyers emerged. Bullish divergence is noted in KDJ/MACD momentum versus September's lower price lows. However, the bearish volume disposition during distribution phases and resistance clustering near $15.00-15.10 warrants caution against premature breakout assumptions. The setup suggests potential near-term consolidation between $14.35-15.10 before directional resolution.