CEG support zone 300 hit

Support zone: close above is a hit. Close on the level is a push. Graded on the regular-session close.

A support zone is a price below the market where a large amount of options positioning sits. The idea is that this positioning can slow a move down there, so the test is simple: does the stock close above it? When it was posted at 12:32 ET, CEG traded at 305.41, 1.8% above the support zone. On the same map, the next level above was 315 and the next level below was 290. See the original post.

Price traded through the support zone during the session (first 5-minute close on the wrong side at 10:25 AM ET), with a low of 297.18 and a high of 309.65. In the last hour price moved down 0.82, from 298.89 to 298.07.

The regular-session close was 300.16, 0.16 (0.05%) above the support zone at 300. Under the rule (support zone: close above is a hit), that is a hit.

Nuclear power stocks jumped after Google announced a 20-year agreement with Constellation for new nuclear capacity plus a separate contract for existing output. Constellation broke under 300 in the afternoon, then recovered to close just above it. CEG finished the day up 12.2%, while SPY was up 0.5%.

• Business Insider: Constellation Energy stock surges on nuclear deal with Google
• Stocktwits: CEG, VST, TLN jump as Google's power deal sparks a nuclear rally
• Invested Alpha: Nuclear power stocks jump on a federal loan and a Google contract