Moving averages

The Utilities Select Sector SPDR ETF (XLU) closed at $58.1 last week, which was 1% and 6% higher than its 50-day and 200-day moving averages, respectively. XLU’s 50-day level at $57.6 acted as a support last week. Its 200-day level at $54.8 might also act as a support in the short to medium term. XLU is up more than 10% so far this year.

Analyzing XLU’s Chart Indicators and Short Interest

Sign up for Bagels & Stox, our witty take on the top market and investment news, straight to your inbox! Whether you’re a serious investor or just want to be informed, Bagels & Stox will be your favorite email.

Relative strength index

XLU’s RSI (relative strength index) was 62 at last week’s closing. RSI is a momentum oscillator, which takes values between 0 and 100. An RSI below 30 indicates that the stock is oversold while an RSI above 70 indicates that the stock is overbought. An RSI at extreme intervals suggests an imminent reversal in the stock’s direction.

Short interest

Short interest in XLU stock fell 5% on April 15. On March 29, there were 46.3 million shorted units in XLU while the shorted units decreased to 43.9 million on April 15.

The short interest shows the number of shares that have been sold short and not squared off yet. A decrease in XLU’s short interest might suggest that fewer investors expect it to fall from the current levels.

XLU posted its 52-week high of $59.1 late last month. It has rallied more than 20% from its 52-week low of $48.4 in June last year.

Latest articles

19 Jul

Afya's IPO Sees Strong Listing Gains

WRITTEN BY Mohit Oberoi, CFA

Afya (AFYA) listed on the Nasdaq Global Select Market on July 19. The company priced its IPO at $19 per share.

19 Jul

What to Watch For in Amazon's Q2 Earnings

WRITTEN BY Sanmit Amin

e-Commerce giant Amazon (AMZN) is scheduled to report its second-quarter earnings results after the closing bell on July 25.

19 Jul

Barrick Gold Reaches Deal to Buy Acacia Mining

WRITTEN BY Anuradha Garg

After a long standoff, Barrick Gold (GOLD) and Acacia Mining (ABGLF) have reached an agreement.

19 Jul

Comcast Shares Pop on Goldman's Optimism

WRITTEN BY Ruchi Gupta

Comcast (CMCSA) shares popped after Goldman Sachs issued a positive note on the company recently. Goldman upgraded its rating for Comcast to "buy" from "hold."

19 Jul

Why Analysts Are Bearish on Netflix Stock

WRITTEN BY Aditya Raghunath

Netflix stock fell over 10.0% on Thursday and is down 0.5% today as well.

On Thursday, pet retailer Chewy (CHWY) reported its first-quarter results after the market closed. The company reported its earnings for the first time.