Canadian Utilities CU-T declined from $41.94 in August, 2022, to $28.13 in October, 2023, (A-B) while trading below a falling trendline (dotted line). From late-2023 to mid-2024, the stock traded in a horizontal range mostly between $29.00 and $32.50 (dashed lines), then rallied above the top of this range (C) and above the 40-week Moving Average (40wMA), which also started to rise, indicating a change in trend. However, Canadian Utilities settled in another range, mostly between $33 and $37, from mid-2025 to early 2025 (dashed lines). The recent advance above the top of the second range as well as above the falling trendline, signalled a breakout and the start of a new uptrend (D). There is good support near $36; only a sustained decline below this level would be negative.
Point & Figure measurements provide targets of $42 and $45. Higher targets are visible.
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Monica Rizk is the Senior Technical Analyst of the Phases & Cycles publication (www.capitalightresearch.com). Chart source: www.decisionplus.com