NRG Energy (NRG), one of the most rallied stocks among S&P 500 Utilities (XLU), continues to look strong based on its simple moving average levels. Currently, NRG Energy is trading at $36.86—almost 4% and 16% above its 50-day and 200-day moving averages, respectively. The large premium to both of the support levels indicates strength in the stock. The moving average levels around $35.50 and $31.72 are expected to act as a support for NRG Energy stock in the short term.
So far, NRG Energy has reported better-than-expected quarterly earnings in 2018. The company is scheduled to report its third-quarter earnings on November 8.
NRG Energy’s RSI (relative strength index) stands at 50. RSI values above 70 suggest that the stock is overbought, while values below 30 suggest that the stock is oversold. An RSI at either extreme suggests that the stock’s direction could reverse.
The short interest in NRG Energy decreased 26% on September 28. On September 14, there were 9.53 million shorted shares in NRG Energy. NRG Energy’s total shorted shares decreased to 7.04 million on September 28.
A notable fall in NRG Energy’s short interest could mean that fewer investors expect it to fall from the current price level. The short interest indicates the number of a company’s shares that have been sold short and not squared off yet.
NRG Energy stock is trading 4% below its 52-week high of $38.25 earlier in October. The stock has rallied more than 55% since its 52-week low in February.