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NextEra Energy’s Chart Indicators and Short Interest

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Aug. 18 2020, Updated 5:34 a.m. ET

Chart indicators

NextEra Energy (NEE) stock continues to trade above its key moving average levels, which highlights the strength of the stock. On October 27, 2017, NEE stock was trading at a 3.0% and 11.0% premium to its 50-day and 200-day moving averages, respectively. Its 50-day moving average, which is $149.70, could act as a support for NEE stock going forward.

NextEra Energy stock has risen more than 30.0% so far this year and continues to trade near its all-time highs. In comparison, the Utilities Select Sector SPDR ETF (XLU), which represents the S&P 500 Utilities Index, has risen 13.0% year-to-date.

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Relative strength index

NextEra Energy stock currently has an RSI (relative strength index) level of 66.

Technical analysts consider RSI values above 70 to be in the overbought zone, while values below 30 are considered to be trading in the oversold zone. Stocks can show a trend reversal when an RSI is at an extreme level.

Short interest

Short interest in NextEra Energy stock fell 1.0% on October 13, 2017. According to a recent report, total shorted shares in NEE were 6.33 million on September 29, 2017. They fell to 6.28 million on October 13, 2017.

A fall in short interest generally indicates that fewer investors expect the stock to fall from its current levels.

US utilities (XLU) (VPU) have remained in focus so far this year, mainly due to their smooth ascent and premium dividend yield. You can learn more about their performances and chart indicators in What XLU’s Chart Indicators Suggest.

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