A Look at Duke Energy ahead of Its 1Q17 Earnings

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Part 5
A Look at Duke Energy ahead of Its 1Q17 Earnings PART 5 OF 6

Will Duke Energy Stock Continue to Soar?

Duke Energy: Chart indicators

Duke Energy (DUK) stock has had an interesting run so far this year, and it’s still looking strong. On May 1, 2017, DUK stock was trading at par and 3.0% above its 50-day and 200-day moving averages (or DMA), respectively. Its 50-DMA crossed above its 200-DMA, which can be considered a bullish sign going forward.

In the near future, Duke Energy’s 50-DMA, at about $82, 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.

Will Duke Energy Stock Continue to Soar?

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Relative strength index

Currently, Duke Energy’s RSI (relative strength index) stands at 40. 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.

Short interest

Short interest in Duke Energy rose 5.0% on April 13, 2017. Total shorted shares in the company were 10.5 million on March 31, 2017. They rose to 11.0 million by April 13, 2017. A rise in short interest can mean that more 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.

Read SO or DUK: Which Utility Has the Best Growth Prospects? to learn about a dividend face-off between two giants in the utility sector (XLU).


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