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XLU: Where Utility Stocks Could Go from Here

Vincent Kruger
XLU: Where Utility Stocks Could Go from Here

So far in 2018, utilities at large have risen more than 5%, while broader markets have risen 3.3%. The Utilities Select Sector SPDR ETF (XLU) is trading at $55.6, which is almost 2% and 5% above its 50-day and 200-day simple moving average levels, respectively. The premium to both the support levels indicates strength in XLU. The levels close to $53.9 and $52.0 could act as a support for XLU in the short term.