NextEra Energy’s Triple-Top Breakout Targets $100

by Sam Collins | February 6, 2014 1:31 am

NextEra Energy (NEE[1]) — Formerly FPL Group, this company engages in the generation, transmission, distribution and sale of electricity through its subsidiaries, including Florida Power & Light and NextEra Energy Resources. The recovery in Florida’s economy should help the company grow.

Credit Suisse rates NEE “outperform” based on its estimated 5%-7% earnings growth and a solid and growing dividend, which is currently at $2.64 per year for a 2.9% yield.

On Jan. 28, the stock broke from a triple-top and right triangle. Accumulation is high and volume retracts on pullbacks. MACD is in a buy zone.

The triple-top breakout has a target of $100. Buy NEE for long-term growth and its dividend yield.

NEE Chart
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