Currently, Sempra Energy (SRE) stock is trading at $114.3, nearly 1% below its 50-day moving average and 3% above its 200-day moving average levels. Its 50-day moving average around $116 could act as a resistance, while its 200-day moving average level close to $110.9 could act as a support in the short term. It’s trading in the oversold zone with an RSI (relative strength index) at 28.
A stock is considered “oversold” when its RSI drops below 30 and “overbought” when its RSI rises above 70. Extreme RSI values could suggest an impending reversal in the stock’s direction.
The chart above shows Sempra Energy’s stock movement along with its 50-day and 200-day simple moving averages.
PG&E stock is currently trading at $46.9, roughly 6% and 8% above its 50-day and 200-day moving averages, respectively. Its fair premium to both these support levels indicates strength in its stock. These levels of ~$44.4 and $43.9 could act as supports for the stock in the near future. Its RSI is at 59. PCG’s 50-day moving average crossed above its 200-day moving average recently, which could be seen as a bullish indicator, or a “golden cross,” as some technical analysts call it. Edison International (EIX) stock is also trading fairly above its 50-day and 200-day moving average levels. Its RSI is 52.
Last week, utilities showed significant weakness, as benchmark Treasury yields rose sharply. Read Utility Stocks Fell, Treasury Yields Rose on September 19.