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XLU: Where Utility Stocks Could Head from Here

Vincent Kruger
XLU: Where Utility Stocks Could Head from Here

The weakness in utility stocks last week has pushed them below their 50-day moving average levels. The Utilities Select Sector SPDR ETF (XLU) is currently trading on par with its 50-day moving average and 4% lower than its 200-day moving average. It looks weak given its moving averages, and $52.53 is expected to act as a resistance for it going forward. It’s currently trading at $50.38.