Analyzing Dominion Resources’ Chart Indicators
Dominion Resources’ (D) chart indicators look stable as the stock continues to trade above its simple moving average levels. On April 6, 2017, Dominion stock was trading 3% and 4% above its 50-day and 200-day moving average levels, respectively. The fair premium to both the moving average levels highlights the stock’s strength.
In the short term, Dominion’s 50-day moving average level is near $75.70—it might act as a support. It should be noted that when a stock’s price rises above or falls below a particular moving average, it’s a bullish or bearish sign, respectively.
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Relative strength index
Currently, Dominion Resources’ RSI (relative strength index) stands at 63. It might be approaching the “overbought” zone.
The RSI is a momentum indicator comprised of values between 0 and 100. Movements below 30 are in the “oversold” zone, while movements above 70 are in the “overbought” zone. Extreme RSI levels could indicate an imminent reversal.
Dominion stock has done relatively well in the last six months and outperformed its peers. Since November 2016, the stock registered a gain of more than 11%. It outperformed utilities.
To learn about what’s happening with Dominion’s peer and one of the largest utilities in the sector (XLU), Southern Company (SO), read After Kemper, Westinghouse’s Bankruptcy Bites Southern Company.