Though it was one of the top-rallying stocks of the last year, Xcel Energy (XEL) currently seems weak considering its moving average levels.
On January 31, 2018, XEL was trading 6% and 5% lower than its 50-day and 200-day moving averages, respectively. The weakness in the stock is highlighted by its fair discount to both its key moving average levels. XEL’s 200-day moving average of ~$47.94 is likely to act as a resistance for the stock in the short term. It’s currently trading at $45.64.
Relative strength index
Xcel Energy stock currently seems stable given its RSI (relative strength index) of 48. RSI movements of below 30 suggest that a stock has been oversold, while movements of above 70 suggest that a stock has been overbought.
According to a recent report, short interest in Xcel Energy stock rose 9% on January 12, 2018. Total shorted shares in XEL were ~12.2 million on December 29, 2017, while they rose to 13.4 million by January 12, 2018.
Short interest reflects the number of a company’s shares that have been sold short and haven’t been bought back yet. The number is useful in tracking investor sentiments. A rise in short interest could mean that more investors expect the stock to fall in the near term.