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Where Xcel Energy Stock Might Go from Here

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Jan. 14 2019, Updated 9:00 a.m. ET

Moving averages

Xcel Energy (XEL) is trading at $48.5, which is almost 4% below its 50-day moving average and 2% above its 200-day moving average. The level close to $50.7 will likely act as a resistance, while $47.5 will likely act as a support for Xcel Energy stock in the short term. Xcel Energy’s RSI (relative strength index) was 49 on January 10.

The RSI is a momentum oscillator that takes values between zero and 100. 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.

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Consolidated Edison (ED) stock is trading at an RSI of 48, which indicates that it isn’t in the overbought or oversold zone. Consolidated Edison is 4% and 3% lower than its 50-day and 200-day moving average levels, respectively. The discount to both of these levels indicates weakness in the stock. The levels close to $77.7 and $78.5 are expected to act as resistance for Consolidated Edison stock going forward.

Short interest

The short interest in Xcel Energy decreased 17% on December 30. On December 14, there were 19.5 million shorted shares in Xcel Energy. The total shorted shares decreased to 16.1 million on December 31. Recently, the short interest in Consolidated Edison fell 4%.

A fall in the stock’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.

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