Chart pattern
MGEE chart pattern — MGE Energy
2 formations detected on the latest close (Nov 06, 2026).
Descending Channel · Weekly candles
BearishForming
Last close$80.26
Trigger$66.45 (-17.2%)
Upper boundary$80.53
Lower boundary$66.45
Pattern spanJun 05, 2026 → 22 bars
Touches4
Fit score66/100
A steady downtrend held between two parallel falling lines. Trigger: A close above the upper rail is the first real sign the downtrend is ending. A close below the lower rail is capitulation. Invalidation: A sustained close above the upper rail.
Double Top · Daily candles
BearishForming
Last close$80.26
Trigger$68.01 (-15.3%)
Pattern spanAug 19, 2026 → 56 bars
Touches3
Fit score61/100
Two failed attempts at the same high, separated by a dip — the classic M. Trigger: A close below the neckline — the low between the two peaks. Until that happens it is just a pullback. Invalidation: A close above the twin peaks, which turns the whole thing into a base rather than a top.
Automated detection for education and research; not a recommendation. Levels are drawn from split-adjusted daily prices.