Where US Utility Stocks Might Go from Here
US utility stocks have been in recovery mode for the last few weeks. So far, there hasn’t been a significant strength. The Utilities Select Sector SPDR ETF (XLU) is trading 2% above its 50-day moving average and 4% below its 200-day moving average level. XLU’s 50-day moving average level around $49.6 is expected to act as a support for XLU in the short term. Currently, XLU is trading at $50.4.