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Why NRG Energy Stock Could Continue to Soar

PART:
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Part 2
Why NRG Energy Stock Could Continue to Soar PART 2 OF 5

Will NRG Energy’s Surge Calm Down Anytime Soon?

Chart indicators

NRG Energy (NRG) stock still looks strong. Its chart indicators are suggesting a further upside in the short term since it’s trading at a huge premium to its moving averages. On March 21, 2017, NRG stock was trading 9.0% and 34.0% above its 50-day and 200-day moving averages (or DMA), respectively. Its 50-DMA, which is nearly $16.70, may act as a support in the short term. The stock attained bullish momentum when its 50-DMA crossed above its 200-DMA last month.

When a stock exceeds a particular moving average, it’s a bullish sign, and vice versa. When a stock’s shorter moving average crosses over its longer moving average, it’s considered a “buy” signal for the stock.

Will NRG Energy&#8217;s Surge Calm Down Anytime Soon?

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Relative strength index

NRG Energy’s RSI (relative strength index) currently stands at 67. It can be said that NRG stock is approaching the overbought zone. An RSI is a momentum indicator made up of values between 0 and 100. Movements below 30 fall in the “oversold” zone, and movements above 70 are in the “overbought” zone. RSI values at the extremes can hint at an imminent reversal in the price of a stock.

NRG Energy stock rallied after hedge fund Elliott Associates made comments about the stock being “deeply undervalued.” 

Next, let’s see how NRG is currently valued compared to its peers (XLU).

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