Analyzing Dominion Resources’ Chart Indicators
Dominion Resources (D) stock has had an unimpressive run so far this year. Since its inception, Dominion Resources has risen 1% while the Utilities Select Sector SPDR ETF (XLU) rose more than 6%. During the same period, the SPDR S&P 500 ETF (SPY) (SPX-INDEX) rose 6%.
Dominion Resources accounts for more than 7.5% of XLU, and the utility sector makes up nearly 3.2% of SPY.
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Dominion Resources: Chart indicators
On May 4, 2017, Dominion Resources stock was trading 1% below and 2% above its 50-day and 200-day moving average (or MA) levels, respectively. When a stock’s price rises above or falls below a particular moving average, it’s a bullish or bearish sign, respectively.
Dominion Resources stock breaking below its 50-day moving average level can be considered a weakness. Its 200-day MA level near $75.21 may now act as a support in the short term.
Relative strength index
Currently, Dominion Resources’ RSI (relative strength index) stands at 49. RSI is a momentum indicator composed of values between 0–100. 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 Resources’ peer Southern Company (SO) reported its quarterly results on May 3, 2017. For more information, please read Where Southern Company Stock Could Go after Its 1Q17 Earnings.