XEL pushes through previous session high

Xcel Energy Inc (XEL) Technical Analysis Report for Apr 16, 2018

Highlights

XEL rallies 1.8% on low volume
XEL dominated by bulls lifting the market higher throughout the day
XEL pushes through 20-day moving average
XEL finds buyers at key support level
XEL closes higher for the 2nd day in a row

TQ Sentiment

Report Sentiment: 66% Bullish
Technical Forecast:

Overview

Moving higher for the 2nd day in a row, XEL finished Monday at 45.28 surging $0.80 (1.8%) on low volume. This is the biggest single day gain in over two weeks. Today's closing price of 45.28 marks the highest close since April 9th. The bulls were in full control today, moving the market higher throughout the whole session. Closing above Friday's high at 44.66, the share confirms its breakout through the prior session's high having traded $0.72 above it intraday. Ending with a strong close near the high of the day sets a bullish note for the next session.

Daily chart for XEL

Volatility

Monday's trading range was $0.88 (1.97%), that's slightly above last trading month's daily average range of $0.78. Weekly volatility is also higher, being slightly above the markets average with the monthly volatility being below average.

Support/Resistance

After trading as low as 44.50 during the day, the stock bounced off the key support level at 44.53. The failure to close below the support might increase that levels importance as support going forward.

Trend

While still in a long-term downtrend, the short and medium-term trends both turned bullish already. The market managed to break above the 20-day moving average at 44.85 today for the first time since March 14th.

Order Flow

Buying could accelerate should prices move above the nearby swing high at 45.99 where further buy stops might get triggered. As prices are trading close to April's high at 45.99, upside momentum could speed up should XEL mark new highs for the month.

Conclusion

Both sentiments, the classical technical analysis and our quantitative statistics are in perfect alignment today showing a bullish sentiment for the next trading day.

Market Conditions for Xcel Energy Inc

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Latest Report:

XEL pushes through 50-day moving average

Sep 21, 2018
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