Analyzing Xcel Energy’s Chart Indicators and Short Interest
Xcel Energy (XEL) stock is looking strong considering its chart indicators. On April 17, 2017, the stock was trading 4% and 8% above its 50-day and 200-day moving averages, respectively. The fair premium to both moving average levels highlights strength in the stock. Its 50-day moving average crossing above its 200-day moving can also be considered a bullish sign.
Xcel Energy’s 50-day moving average, or levels around $43.45, might act as support in the short term. We should note that when a stock price rises above or falls below a moving average, it’s considered a bullish or bearish sign, respectively.
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Relative strength index
Xcel Energy’s RSI (relative strength index) stands at 55 right now.
The RSI is a momentum indicator made up of values between 0 and 100. Movements below 30 are considered to be in the “oversold” zone. Movements above 70 are considered to be in the “overbought” zone and could hint at an imminent reversal in the stock.
Short interest in Xcel Energy rose 2.1% on March 31, 2017. Total shorted shares in the company were 8.7 million on March 15, 2017, and rose to 10.6 million by March 31, 2017. A rise in short interest could mean that more investors expect the stock to fall in the near term.
Remember, short interest indicates the number of a company’s shares that have been sold short and haven’t been covered. The number also helps track investor sentiment.