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A Pre-Earnings Analysis of FirstEnergy and Its Growth Prospects

PART:
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Part 5
A Pre-Earnings Analysis of FirstEnergy and Its Growth Prospects PART 5 OF 7

Do FirstEnergy’s Chart Indicators Hint at More Weakness Ahead?

FE: Chart indicators

Let’s look at FirstEnergy’s (FE) chart indicators. On April 20, 2017, FirstEnergy stock was trading 1% and 4% below its 50-day moving average and 200-day moving average, respectively. The stock has consistently failed to maintain gains, which could be concerning for investors. Its 50-day moving average, with levels near $31.30, could act as a short-term resistance.

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.

Do FirstEnergy’s Chart Indicators Hint at More Weakness Ahead?

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Relative strength index

Currently, FirstEnergy’s RSI (relative strength index) is 32, approaching the oversold zone. The relative strength index is a momentum indicator made up of values between zero and 100. 

Movements below 30 are considered in the oversold zone. Movements above 70 are considered in the overbought zone, which can hint at an imminent reversal in the stock’s price.

Short interest

Short interest in FirstEnergy (FE) fell 6% on March 31, 2017. The number of shorted shares in the company totaled 10.2 million on March 15, 2017, and fell to 9.7 million by March 31, 2017. A fall in short interest can indicate that fewer investors are expecting the stock to fall in the near term.

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.

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