Constellation Energy Corp

CEG is in Stage 3 distribution with price trading below flattening and declining EMAs, highlighting a medium-term bearish bias. The recent oversold bounce into the declining 9/21 EMA zone provides a timing edge. Trim into the rally at the 9/21 EMA area for bearish participation.

• ↑Q1 2026 GAAP EPS of $4.49 (+$0.60 YoY) shows strong execution
• ↑Base earnings growth target above 20% CAGR through 2029 underpins outlook
• ↓Uncertainty in PJM interconnection process may delay capacity adds