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Utilities Weak, Hybrid Utilities Weaker: What's Next for Exelon?

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Utilities Weak, Hybrid Utilities Weaker: What's Next for Exelon? PART 1 OF 6

Analyzing Exelon’s Technical Indicators and Short Interest

Technical indicators

On October 6, 2016, US utilities’ losing streak continued for the tenth straight day, with the Utilities Select Sector SPDR Fund (XLU) closing the day at $47.17. Competitive utilities are relatively more fragile due to their commodity exposure. Exelon (EXC), for example, has corrected more than 10% in the past two weeks.

As of October 6, 2016, Exelon was trading at 8% and 4% discounts to its 50-day and 200-day moving averages, respectively. The fair premium to both its faster and slower moving averages indicates severe weakness in the stock. The bulls may return if the stock crosses above these moving averages, which seem precarious in the near term.

Analyzing Exelon&#8217;s Technical Indicators and Short Interest

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Remember, moving averages show that when a stock price rises above or falls below a particular moving average, it’s a bullish or bearish sign, respectively.

Relative strength index

Currently, Exelon’s RSI (relative strength index) stands at 33. In the past couple of trading sessions, it has been hovering near the 30–35 range. RSI is a momentum indicator comprising values between 0 and 100. Movements below 30 are considered in the “oversold” zone while movements above 70 are in the “overbought” zone.

Short interest

According to a recent report, short interest in Exelon rose more than 1.5% on September 15, 2016. Total shorted shares in EXC totaled 18.8 million at the start of September. They rose to 19 million on September 15. This rise could mean that investors are still expecting a downside for Exelon from current levels.

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