20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
The most oversold stocks in the utilities sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Exelon Corporation (NYSE:EXC)
- Exelon posted better-than-expected first-quarter results. "Our team of 19,000 plus employees have entered this first full year of operations after the separation excited to lead the energy transformation, and it shows in our results," said Exelon President and CEO Calvin Butler. The company’s stock has a 52-week low of $35.19 .
- RSI Value: 27.90
- EXC Price Action: Shares of Exelon fell 0.3% to close at $39.26 on Wednesday.
RGC Resources, Inc. (NASDAQ:RGCO)
- RGC Resources posted upbeat second-quarter results. The company’s stock has a 52-week low of $18.01.
- RSI Value: 27.52
- RGCO Price Action: Shares of RGC Resources rose 0.2% to close at $18.19 on Wednesday.
WEC Energy Group, Inc. (NYSE:WEC)
- WEC Energy Group posted better-than-expected first-quarter results. "We experienced one of the mildest winters in history. For example, this was the second- warmest first quarter in Milwaukee since 1891," said Gale Klappa, executive chairman. "We continue to focus on the fundamentals of our business — financial discipline, operating efficiency, and customer satisfaction. And we're confident that we can deliver another year of strong results, in line with our original guidance for 2023." The company’s stock has a 52-week low of $80.82.
- RSI Value: 27.52
- WEC Price Action: Shares of WEC Energy dropped 0.9% to close at $89.27 on Wednesday.
American Electric Power Company, Inc. (NYSE:AEP)
- American Electric Power reported first-quarter operating EPS of $1.11, down from $1.22, which came in line with the consensus. "In the first quarter, our team executed on key priorities to advance our strategy even as we experienced the second warmest temperatures we've seen in 30 years. We continue to see the positive impacts of our regulatory efforts and investments in transmission along with strong growth in commercial and industrial load, reflecting our ongoing focus on attracting businesses and jobs to our communities through our economic development efforts," said Julie Sloat, AEP president and chief executive officer. The company’s 52-week low is $80.30.
- RSI Value: 29.47
- AEP Price Action: Shares of American Electric Power rose 0.6% to close at $91.44 on Wednesday.
Read More: Fear & Greed Index Moves To 'Greed Zone After Dow Surges Over 400 Points
20-Year Pro Trader Reveals His "MoneyLine"
Ditch your indicators and use the "MoneyLine". A simple line tells you when to buy and sell without the guesswork. It’s a line on a chart that’s helped Nic Chahine win 83% of his options buys. Here's how he does it.
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