Edison International (EIX)As mentioned in my last post, I am bearish on the materials sector (especially chemicals), neutral on energy, and decidedly bullish on utilities (at least relative to the other sectors I analyze). This chart of all the utilities I have scanned through is my favourite. Clear trading channel starting from the March lows, positive divergence on the daily chart, just above the 50 SMA, (which will hopefully provide support), and also the yearly chart shows immense support at $34 a share. EIX is one of those plays that I hope to buy in to, make a run, and then just hold on to free shares instead of taking profits fully. It has a nice dividend yield, and those are the kinds of things I like to just sit on and wait to enjoy for a later date.
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