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XLU: What’s Next for Utility Stocks?

Vincent Kruger
XLU: What’s Next for Utility Stocks?

Broader utilities have risen more than 10% in the last three months. Currently, the Utilities Select Sector SPDR ETF (XLU) is trading at $54.3—almost 2% and 6% above its 50-day and 200-day moving averages. XLU’s fair premium to both of these support levels underlines the strength in XLU. These moving averages around $53.23 and $51.24 are expected to act as supports for XLU in the near future.