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These SPX Utilities Could Gain You More than 10% from Here

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Part 5
These SPX Utilities Could Gain You More than 10% from Here PART 5 OF 5

Where NRG Energy Stock Might Go from Here

Chart indicators

Let’s discuss which utility stock seems strong considering the chart indicators. NRG Energy (NRG) stock is trading 4% below and 26% above its 50-day and 200-day simple moving average levels, respectively. NRG Energy stock breaking below its 50-day moving average can be considered a bearish sign. However, its huge premium to the 200-day moving average level will likely keep the stock strong. Its 200-day moving average level, around $18.58, might act as a support going forward. Currently, NRG Energy is trading at $23.39.

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.

Where NRG Energy Stock Might Go from Here

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NRG Energy’s RSI (relative strength index) stands at 38, which seems to be approaching the “oversold” zone. The RSI is a momentum indicator. It’s comprised 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 in the stock’s price.

Peer chart indicators

SCANA (SCG) is trading 8% and 15% below its 50-day and 200-day moving average levels, respectively. SCANA’s RSI stands at 30, which is near the “oversold” zone.

FirstEnergy (FE) stock is trading at a 3% discount and a 1% premium to its 50-day and 200-day moving average levels, respectively. FirstEnergy’s RSI stands at 33.

AES (AES) is trading approximately at par to its 50-day and 200-day moving average levels. AES’s RSI stands at 49.

Among these four, NRG Energy stock looks strong considering its moving average levels. At the same time, SCANA stock looks relatively weak.

Read Utility Stocks Correct 5% from Their Recent High—What’s Next? to learn where broader utilities (XLU) (VPU) might go from here.

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