Duke Energy (DUK) stock is trading 2% and 5% above its 50-day and 200-day moving average levels, respectively. The fair premium to both these key moving average levels indicates strength in the stock. Duke is expected to trade strongly until it’s above key moving average levels. Its 50-day moving average level, around $86.34, is likely to act as a support for the stock going forward. DUK is currently trading at $87.99.
Duke Energy stock’s RSI (relative strength index) is near 70. Technical analysts believe RSI values above 70 are trading in the “overbought” zone while RSIs below 30 are believed to be trading in the “oversold” zone. An RSI at extreme values generally results in a reversal of a stock’s direction.
Duke Energy stock has largely tracked broader utilities in the last year. In this period, Duke Energy and Utilities Select Sector SPDR ETF (XLU) rose 13%.
See what broader utilities’ current chart indicators suggest in Weekly Utility Review: Where Utilities Might Go from Here.