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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Broadcom (AVGO) stock fell ~8.5% after markets closed yesterday following the semiconductor giant's fiscal 2019 second-quarter earnings release. It missed analysts' revenue estimate and cut its fiscal 2019 revenue guidance by $2 billion to $22.5 billion due to sluggishness in its semiconductor solutions business.

The SPDR Gold Shares ETF (GLD), which tracks physical gold prices, has underperformed the broader markets year-to-date, rising just 4.4% compared to the S&P 500’s (SPY) gain of 15.9% as of June 14. The sentiment for gold, however, has been turning around.

Safe havens such as Treasuries and gold were back in favor on June 14 as stocks fell due to rising tensions in the Middle East, concerns over growth, and the looming threat of the US-China trade war. The tech-heavy Nasdaq Composite Index fell 0.67% in the first hour of trading.

Lululemon (LULU) stock rose 2.1% on June 13 in reaction to better-than-expected first-quarter results and an upgraded outlook for fiscal 2019 overall. The company's first-quarter adjusted EPS grew 34.5% to $0.74 on revenue growth of 20.4% to $782.32 million. Analysts had expected EPS of $0.70 and revenue of $755.31 million. Here's why the outlook got an upgrade.

14 Jun

IEA Again Slashes Its Oil Demand Growth Estimate

WRITTEN BY Rabindra Samanta

As of 4:40 AM Eastern Time today, US crude oil active futures were at $51.83, ~4% below their closing level in the previous week. If US crude oil prices stay at those levels today, they'll mark their third week of decline in five weeks.

Amazon is discontinuing its Amazon Restaurants service, which has been delivering food for restaurants in parts of the United States. Amazon Restaurants launched in the United States in 2015 and entered the British market the following year. However, it met strong opposition in the British market.

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