XEL closes lower for the 2nd day in a row
Xcel Energy Inc. (XEL) Technical Analysis Report for Feb 13, 2019 | by Techniquant Editorial Team
Moving lower for the 2nd day in a row, XEL finished Wednesday at 53.27 losing $0.21 (-0.39%), underperforming the S&P 500 (0.3%). Closing within the prior day's range, prices missed to decisively move beyond the previous day's trading range in a lackluster session.
Daily Candlestick Chart (XEL as at Feb 13, 2019):
Wednesday's trading range has been $0.48 (0.9%), that's below the last trading month's daily average range of $0.80. Weekly volatility is also lower, being slightly below the market's average weekly trading range. The longer-term, monthly volatility is currently slightly lower than usual for XEL.
The trend is clearly bullish, showing an intact uptrend in the short, medium and long-term.
Buying might speed up should prices move above the close-by swing high at 53.90 where further buy stops could get triggered. 2018's high at 54.11 is within reach and we might see further upside momentum should the share manage to break out beyond.
Among the two market conditions that our pattern recognition engine identified today, the statistics for the Price Action based market condition "2 Consecutive Lower Closes" stand out. Although it is usually interpreted as bearish, it has actually shown to be bullish for Xcel Energy. Out of 272 times, XEL closed higher 55.15% of the time on the next trading day after the market condition occurred. The optimal exit for swing trading this condition on the long side has been after 10 trading days, showing a win rate of 63.24% with an average market move of 0.76%.