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Can Utility Stocks Continue Strong Trading?

Vincent Kruger
Can Utility Stocks Continue Strong Trading?

With a notable fall on October 26, the Utilities Select Sector SPDR ETF (XLU) is now below its 50-day simple moving average. It’s currently trading marginally below its 50-day moving average and 3% above its 200-day moving average. A moving average of $51.40 will likely act as a support for XLU in the short term.