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Edison International: correction sets in

Last week, Edison International shares sent out a signal that the stock could begin to turn north, a trend which lasted for nearly four months. The stock is expected to trade sideways over the next few months. The upper boundary formed at USD 68. And within the next two weeks the stock will be busy forming the lower bound. If RSI falls below 50 by the end of next week the stock could fall to USD 58.

Otherwise it will be necessary to launch positions expecting movement towards USD 68, the upper boundary of the side trend.