21 Mar

NextEra Energy and Dominion Energy: Chart Indicators

WRITTEN BY Vineet Kulkarni

Moving averages

Dominion Energy (D) stock has been underperforming utilities at large for more than a year. Currently, Dominion Energy is trading at $74.9, which is almost 4% and 5% above its 50-day and 200-day moving average levels, respectively. The fair premium to both of these support levels indicates strength in Dominion Energy stock. From overbought levels last week, Dominion Energy is trading at an RSI of 38.

NextEra Energy and Dominion Energy: Chart Indicators

The RSI takes up values from zero to 100. Values of above 70 suggest that a stock is overbought, while values of below 30 suggest that a stock is oversold. An RSI at either extreme hints at an imminent reversal in a stock’s direction.

NextEra Energy (NEE) stock is trading 5% and 6% above its 50-day and 200-day levels, respectively. NextEra Energy’s RSI was 56 on March 20.

Short interest

The short interest in NextEra Energy increased 20% on February 28. On February 14, the total shorted shares in NextEra Energy were 5.2 million, while the shorted shares increased to 6.2 million as of February 28. Recently, the short interest in Dominion Energy fell 12%.

A rise in the stock’s short interest could imply that more investors expect it to fall from the current price level. The short interest implies the number of a company’s shares that have been sold short and not squared off yet.

To learn about the Utilities Select Sector SPDR ETF’s (XLU) moving averages, read A Look at XLU’s Chart Indicators and Short Interest.

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