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Vitalii Liubimov's Avatar
published in Blogs
Aug 12, 2019

Utilities ETF (XLU) hits lower rail of upwardly sloped channel and gets a bullish signal

The utilities sector is often viewed as a safety sector, offering less risk than the more cyclical sectors. With the overall market moving higher over the last three weeks, utilities have lagged the other sectors. The Utilities Select Sector SPDR (NYSE: XLU) has dropped 1.3% since July 8 and that is the worst performance among the 10 main sector SPDRs.

While the XLU has lagged in the last few weeks, the slight decline has allowed a couple of trend lines to catch up to the fund. The first one is the 50-day moving average and the ETF just hit it in the last few days. The second trend line is actually the lower rail of an upwardly sloped channel. We see that the line connects the lows from May and June while the upper rail connects the highs from April, May, and June.

When the XLU dropped to its low on May 9 that formed the first point of the lower rail and the fund jumped over 6% in just over two weeks. The second point that helped form the lower rail was on June 4 and after hitting that low the fund jumped 5.87% in three trading days.

The Tickeron Trend Prediction Engine generated a bullish signal for the XLU on July 25 and the signal showed a confidence level of 84%. The signal calls for a gain of at least 4% within the next month. Past predictions on the XLU have been successful 90% of the time.

From a fundamental standpoint, utilities may become more attractive as it appears as if the Fed will cut rates at the July meeting. When the Fed cuts rates, utility stocks become more attractive for the yields the dividends provide.

Related Ticker: XLU

Momentum Indicator for XLU turns positive, indicating new upward trend

XLU saw its Momentum Indicator move above the 0 level on April 19, 2024. This is an indication that the stock could be shifting in to a new upward move. Traders may want to consider buying the stock or buying call options. Tickeron's A.I.dvisor looked at 93 similar instances where the indicator turned positive. In of the 93 cases, the stock moved higher in the following days. The odds of a move higher are at .

Price Prediction Chart

Technical Analysis (Indicators)

Bullish Trend Analysis

The Moving Average Convergence Divergence (MACD) for XLU just turned positive on April 23, 2024. Looking at past instances where XLU's MACD turned positive, the stock continued to rise in of 44 cases over the following month. The odds of a continued upward trend are .

Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where XLU advanced for three days, in of 338 cases, the price rose further within the following month. The odds of a continued upward trend are .

The Aroon Indicator entered an Uptrend today. In of 302 cases where XLU Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .

Bearish Trend Analysis

The RSI Indicator demonstrates that the ticker has stayed in the overbought zone for 11 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

The Stochastic Oscillator demonstrated that the ticker has stayed in the overbought zone for 20 days. The longer the ticker stays in the overbought zone, the sooner a price pull-back is expected.

XLU broke above its upper Bollinger Band on May 08, 2024. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.

Fundamental Analysis (Ratings)

Fear & Greed

Notable companies

The most notable companies in this group are Nextera Energy Inc (NYSE:NEE), Southern Company (The) (NYSE:SO), PG&E Corp (NYSE:PCG), Dominion Energy (NYSE:D).

Industry description

The investment seeks to provide investment results that, before expenses, correspond generally to the price and yield performance of publicly traded equity securities of companies in the Utilities Select Sector Index. In seeking to track the performance of the index, the fund employs a replication strategy. It generally invests substantially all, but at least 95%, of its total assets in the securities comprising the index. The index includes securities of companies from the following industries: electric utilities; water utilities; multi-utilities; independent power and renewable electricity producers; and gas utilities. The fund is non-diversified.

Market Cap

The average market capitalization across the Utilities Select Sector SPDR® ETF ETF is 58.8B. The market cap for tickers in the group ranges from 33.3B to 131.17B. NEE holds the highest valuation in this group at 131.17B. The lowest valued company is PEG at 33.3B.

High and low price notable news

The average weekly price growth across all stocks in the Utilities Select Sector SPDR® ETF ETF was 4%. For the same ETF, the average monthly price growth was 21%, and the average quarterly price growth was 79%. PCG experienced the highest price growth at 4%, while CEG experienced the biggest fall at -1%.

Volume

The average weekly volume growth across all stocks in the Utilities Select Sector SPDR® ETF ETF was -19%. For the same stocks of the ETF, the average monthly volume growth was -6% and the average quarterly volume growth was -24%

Fundamental Analysis Ratings

The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows

Valuation Rating: 54
P/E Growth Rating: 67
Price Growth Rating: 21
SMR Rating: 68
Profit Risk Rating: 52
Seasonality Score: -5 (-100 ... +100)
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XLUDaily Signal changed days agoGain/Loss if shorted
 
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Category Utilities

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