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Where Is Duke Energy Stock Going from Here?


Sep. 21 2017, Updated 10:36 a.m. ET

Moving averages

Duke Energy (DUK) stock is currently trading 2% and 6% above its 50-day and 200-day moving average levels, respectively. The stock might continue to trade strongly until it breaks below both of these moving averages. Its 50-day moving average level around $85.75 could act as a support going forward. Duke is currently trading at $87.28.

The steep fall on September 12, 2017, brought almost all of the SPX Utility stocks down. Duke Energy stock, which was trading in the overbought zone before the fall, witnessed its RSI (relative strength index) come down from 74 to 50 after the fall.

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Peer Southern Company (SO) stock’s RSI also fell from 87 to 57 during the day. SO has been on a bull run in the last few trading sessions, which pushed the stock into the overbought zone. It is still trading above its 50-day and 200-day moving averages, which can be considered positive for Southern Company going forward.

Short interest

According to a recent report, short interest in Duke Energy fell 2% on August 31, 2017. Total shorted shares in Duke Energy on August 31 totaled 10.4 million against its total shorted shares of 10.6 million on August 15, 2017.

Short interest implies the shares that are sold short and the position is not yet closed. This metric tracks investors’ anxiety.

Let’s move to the final article in this series to see Duke Energy’s price targets and analysts’ recommendations.


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