Home > Boards > US Listed > Miscellaneous > XLU (XLU)

Utility Stocks Retreat, But The Run Is Not

Public Reply | Private Reply | Keep | Last ReadPost New MsgPrevious | Next
ITMS Member Profile
Member Level 
Followed By 45
Posts 1,500
Boards Moderated 1
Alias Born 10/13/09
160x600 placeholder
ITMS Member Level  Tuesday, 03/19/19 11:57:41 AM
Re: None
Post # of 44 
Utility Stocks Retreat, But The Run Is Not Over Yet

The Utilities Select Sector SPDR Fund (NYSEARCA:XLU) has been on an amazing run higher since December 26, 2018. It should be noted that when interest rates decline the utility stocks will generally move higher and that is exactly what has occurred. On December 26, 2018 the popular XLU traded as low as $50.81 a share before breaking out to new 52 week highs. On March 14, 2019 the XLU traded as high as $58.74 a share before staging a minor pullback. Today, the XLU is trading around the $57.55 level. Traders and investors can easily see that the trend is up on the XLU and that another pullback in the ETF is a likely buying opportunity. At this time, the $55.00 area looks like solid daily chart support. This is where the 50 and 100-day moving averages are currently. This level should be defended when initially tested. The only thing that could disrupt the XLU trend would be higher interest rates and that is highly unlikely to occur at this time.





Nick Santiago
InTheMoneyStocks

Public Reply | Private Reply | Keep | Last ReadPost New MsgPrevious | Next
Follow Board Follow Board Keyboard Shortcuts Report TOS Violation
X
Current Price
Change
Volume
Detailed Quote - Discussion Board
Intraday Chart
+/- to Watchlist