November 17 Chart of the Day - Dominion Energy

Highly precise price action technical analysis offers the strongest trading edges and the most opportunities across the markets, making it the foundation of our reviews.

Dominion Energy (D) is one of the largest regulated utility providers in the United States, delivering electricity and natural gas to more than 7 million customers across the East Coast and Midwest.

Their operations span power generation, transmission, distribution, and energy infrastructure serving homes, businesses, and government agencies that rely on consistent, essential utility services every single day.

After a prolonged decline from the $90 area, price action has now reached a pivotal moment where traders are watching to see whether this recovery attempt can build momentum or if overhead resistance traps buyers once again.

We'll review the chart from a price action perspective to identify potential levels of interest in both directions.

The charts highlight key levels where investors and traders alike will be watching closely.

Consistent profitable investing and/or trading requires a structured, rules-based approach to price action analysis. Proven processes, disciplined risk-reward management, and precise execution create the foundation for long-term success.

When combined with powerful mental performance strategies, this method becomes the ultimate blueprint for thriving in any market, on any time frame. 

As requested, this analysis will take a price action technical analysis approach to assess key levels and potential next price moves for this chart.

Since May 2023, we've showcased over 650+ Charts of the Day and provide a Free Quick Start Guide to traders with ambitious income goals for our patent-pending NeuroTrading Method™.

Monthly Chart 

The monthly chart reflects a steep multi-year selloff from the $90.89 high. After breaking key structural supports on the way down, price finally found buyers around the $48–$50 zone — an area where long-term value investors have historically stepped in.

This recent bounce has been constructive, but the path higher is crowded with overhead supply levels stacked from $55 to $67. The current candle is attempting to push through the first major resistance at $61.82, but after such a torrid selloff this past year, price still needs to clear several layers before any true trend reversal can be confirmed.

For now, bulls are encouraged by the stabilization, but the bigger question remains: can price reclaim the higher-level Fibonacci retracements and regain control of the chart?

With plenty of volatility traders have had much to be happy with but long term buy and hold investors may not be so happy and getting tired of waiting.

This kind of movement highlights why a cautious and well-informed approach is essential when evaluating a stock’s short to mid term outlook.

Weekly Chart

The weekly view adds more clarity — this is where all the most relevant price action is happening.

One of the most important features on this chart is the long gray Change Control Zone, defined as:

Change control zones are one of the five price action tools we teach when charting anything.  By definition, they are an area that represents where neither the bulls nor bears are in charge.  Price can slash through the zone with seemingly reckless abandon, price can respect the top or bottom from outside it or within it.  Or, price can trade aimlessly sideways within it.  When price breaks away from the zone it can often get drawn back to it like a magnet. And in this case we see all of the above are true.

For Dominion Energy, this long gray rectangle sits between roughly $61 and $65, marking the exact region where buyers have repeatedly struggled to break through and where sellers have stepped back in.

Price is now pressing into the bottom of this zone again. A sustained move above $61.82 could open the door toward the upper boundary near $65, while failure here risks sending price back down toward $55.62 and even the recent retracement levels around $53.46.

This is a textbook battle area — and traders are watching closely.

It goes without saying though, the only guarantee in the markets is that price cycles.  It cycles up and it cycles down across all time frames and all charts and rarely, if ever, moves in a straight line.

Only time will tell for sure what price will do next...

We’ve combined Fibonacci levels with key support/resistance zones and trend analysis to pinpoint potential price levels of interest and future targets.

With precision-focused charts like these, both traders and investors can confidently build and execute their strategies.

So what's next? 

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