Thu. Jan 27th, 2022

Électricité de France SA (literally, Electricité de France), commonly known as EDF, is a French multinational electricity company. Operations include electricity generation and distribution, power plant design, construction and dismantling, energy trade and transportation. The company, founded in 1946 and based in Paris, France, is majority owned by the French state. EDF is part of the CAC Next 20 index. Although energy stocks show a great attraction like that of E.ON in Germany, the share price has depreciated sharply in 12.5 years. In fact, it lost 93% of its value between November 2007 and March 2020.

Today we see that the energy sector is growing strongly. Commodities such as oil, gas and uranium are priced higher. Consequently, utility companies such as EDF should also recover the global bullish market. Therefore, investors may be looking to buy the French giant EDF in order to diversify its portfolio through indirect investments in rising commodity prices.

EDF Monthly analysis of Elliott waves 08.01.2021

The chart below shows EDF $ EDF shares traded on Euronext. Starting from the historical lows, the stock price has developed a high cycle black wave ((I)) of high degree of super cycle towards the historical highs of November 2007 at 81.36. From the maxima, a lower correction in black wave ((II)) has been deployed as a zigzag pattern of the Elliott wave. It printed a significant fund in March 2020 at 5.97. As of the March 2020 lows, a new wave cycle ((III)) has already begun that should extend to 81.36 highs and even higher.

EDF Elliott Wave Monthly

EDF Daily Elliott Wave Analysis 08.01.2020

The following daily graph shows in more detail the early stages of the highest wave advance ((III)). From the March 2020 lows at 5.97, the initial impulse advance of the black wave ((1)) ended at 13.57 in January 2021. From there, it began a wave correction ((2)) and you should find support above the minimum 5.97 on 3, 7, or 11 swings for more lift.

Undoubtedly, the current stock price at 10.26 euros has a high appeal for investors. While they exceed the lows of 5.97, investors can anticipate that EDF will expand further. In the long run, EDF should surpass the new all-time highs above 81.36.

EDF Elliott Wave Daily


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