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Why Dominion Resources Stock Seems Strong

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Chart indicators

Dominion Resources’ (D) stock has recovered nearly 10% in the last couple of months. It continues to show strength, as it’s trading at nearly a 2% premium to its 50-day and 200-day moving averages, respectively. 

The stock’s 50-day moving average has also crossed above its 200-day moving average, which could be considered a bullish sign.

D dma

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Relative strength index

Currently, Dominion’s RSI (relative strength index) stands at 49. The RSI is a momentum indicator made up of values between 0 and 100. Movements below 30 are considered to be in the “oversold” zone. Movements above 70 are considered to be in the “overbought” zone. RSI values can hint at imminent reversals in stock prices.

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