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Duke Energy: Its Valuation, Charts, and Meager Price Target

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Part 2
Duke Energy: Its Valuation, Charts, and Meager Price Target PART 2 OF 6

Chart Indicators Show Strength in Duke Energy Stock

Duke Energy’s chart indicators

Duke Energy (DUK) stock currently seems strong as it continues to trade with a fair premium to both its moving averages. On April 7, 2017, the stock was trading 2.0% and 3.0% above its 50-day and 200-day moving averages (or DMA), respectively. The stock’s 50-DMA crossing above its 200-DMA can be considered a bullish sign.

In the near future, Duke Energy’s 50-DMA at about $80.55 may act as its support. 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.

Chart Indicators Show Strength in Duke Energy Stock

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Relative strength index

Currently, Duke Energy’s RSI (relative strength index) stands at 49. RSI is a momentum indicator that consists 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.

Southern Company’s chart indicators look less stable. On April 7, 2017, the stock was trading at par to its 50-DMA and 1.0% below its 200-DMA. The stock turned weak in the last few trading sessions and corrected a few percentage points due to its Kemper County and Vogtle nuclear plant struggles.

In the last year, Duke Energy has risen nearly 3.0%, while Southern Company has fallen 2.0%. In the same period, renewables titan NextEra Energy (NEE) outwitted its peers by rising 11.0%, and the Utilities Select Sector SPDR ETF (XLU) rose 5.0%.

You can read more about NextEra Energy (NEE) in NextEra Energy’s Oncor Deal Hits a Roadblock.

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