22 Apr

Analyzing Top Utilities’ Chart Indicators

WRITTEN BY Vineet Kulkarni

Moving averages

Top utility stocks have lost some momentum after touching multiyear highs. The Utilities Select Sector SPDR ETF (XLU), trading at $57.29, is on par with its 50-day moving average and 5% above its 200-day moving average. Its all-time high of ~$59 has acted as resistance recently.

XLU broke above its 50-day average early this year, and testing these levels could concern investors—it could weaken if it breaks below that average. Its 200-day average of $54.65 could continue to act as crucial short-term support. Last week, XLU closed with an RSI (relative strength index) score of 37.

Analyzing Top Utilities’ Chart Indicators

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Top utilities’ chart indicators

Southern Company (SO), the top gainer among utilities, is trading at $51.96, almost 3% and 10% above its 50-day and 200-day moving averages, respectively. Its RSI score is 50.

The third-biggest utility by market cap, Dominion Energy (D), has risen ~5% this year, underperforming broader utilities. The stock is approaching the “oversold” zone, with an RSI score of 33. An RSI score above 70 suggests a stock is overbought, while an RSI score below 30 suggests it is oversold.

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