10 Apr

Where Sempra Energy Stock Could Go from Here

WRITTEN BY Vineet Kulkarni

Moving averages

Currently, Sempra Energy (SRE) stock is trading at $127.8, which is nearly 6% and 10% above its 50-day and 200-day moving average levels, respectively. The large premium to both of the company’s support levels indicates the strength in the stock. Sempra Energy’s 50-day moving average around $121.3 could act as a support in the short term. The recent strength in Sempra Energy stock has pushed it into the overbought zone with an RSI (relative strength index) at 70.

Where Sempra Energy Stock Could Go from Here

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Sempra Energy stock displayed a “golden cross” formation early last month. When a stock’s 50-day moving average level crosses above its 200-day level, it’s considered to be a bullish signal. Sempra Energy has rallied 6% since then.

Recently, Sempra Energy’s short interest was unchanged. The total shorted shares in Sempra Energy were ~21.2 million on March 15. The short interest ratio, which measures the days to cover the shorted shares, was 16x.

Sempra Energy’s implied volatility levels were close to 10%—lower than utilities (XLU) at large. The implied volatility indicates investors’ anxiety. Higher implied volatility is usually associated with a fall in stock prices.

Read Utility Stocks: What Do Chart Indicators Suggest? to learn more about the Utilities ETF’s (XLU) chart indicators.

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