Relative strength index
Exelon (EXC) stock rose 1.4% and reached a 52-week high of $40.81 after the release of its third quarter earnings on November 2, 2017. The leap took Exelon stock into an overbought zone with its RSI (relative strength index) near 81. Its current RSI levels indicate an imminent reversal in the stock going forward.
Technical analysts consider RSI values beyond 70 to be trading in the overbought zone, while values below 30 are considered to be trading in the oversold zone. Extreme RSI levels indicate a possible change in the stock’s direction.
Exelon stock continues to look strong considering its key moving average levels. On November 2, 2017, EXC was trading 6% and 11% above its 50-day and 200-day moving average levels, respectively. The fair premium to both the key moving averages highlights the strength in the stock. Its 50-day moving average around $38.45 is likely to act as a support for the stock in the near future. It’s currently trading at $40.72.
The short interest in Exelon stock rose a significant 9% on October 13, 2017. According to a recent report, total shorted shares in Exelon were 12.8 million on September 29 while they increased to 13.9 million as of October 13, 2017.
An increase in short interest indicates that more investors expect EXC stock to fall from its current levels. Short interest ultimately tracks investor nervousness.
California’s second-largest utility, Sempra Energy (SRE), reported its quarterly earnings this week. You can learn more about its earnings and chart indicators in Sempra Energy’s 3Q17 Earnings, Chart Indicators, and More.