Global stocks: Energy stocks look strong in the medium term

Published December 12, 2018

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The US markets have been in a somewhat sideways to downward trend in the past few weeks. But one sector that is enjoying a good time is utilities stocks. Many of them are near multi-year high. It's worth giving them a glance as some of them have given breakouts from rising trend channels, which Investtech has done a lot of research on, mainly in Scandinavian markets.

Wisconsin Energy Corp (WEC.US500) Close: 74.89

Wisconsin Energy Corp has broken up through the ceiling of the rising trend channel in the medium term, which signals an even stronger rising rate. As per Investtech's quantitative research done in the Scandinavian markets, shares that have broken up from rising trend channels has given an annualized excess return of 14.7 % in the medium term. Read more at thetrendbible.com

The stock has support at 71.60 and 69.50 dollars. The short term momentum of the stock is strongly positive, with RSI above 70. This indicates increasing optimism among investors and further price increase for Wisconsin Energy Corp. However, particularly for big stocks, high RSI may be a sign that the stock is overbought and that there is a chance of a short term reaction downwards.

The stock is overall assessed as technically positive for the medium term.

Investtech's outlook (one to six months): Buy

Cms Energy Corp (CMS.US500) Close: 53.16

Cms Energy Corp is in a rising trend channel in the medium long term. This signals increasing optimism among investors and indicates continued rise. The stock has support at 51.70 - 50.70 dollars.

RSI above 70 shows that the stock has strong positive momentum in the short term. Investors have steadily paid more to buy the stock, which indicates increasing optimism and that the price will continue to rise. The volume balance indicator is also positive, supporting the rising price.

The stock is overall assessed as technically positive for the medium term.

Investtech's outlook (one to six months): Buy

 

The analyses are based on closing price as per December 11, 2018.

Note: These instruments are traded in currency based on the exchange or country they are listed on.

Skrivet av

Kiran R. Shroff
Analytiker
i Investtech

"Investtech analyserar psykologin i marknaden och ger dig konkreta tradingförslag varje dag."

Espen Grönstad
Partner & Senior Advisor - Investtech
 


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Investtech garanterar inte fullständigheten eller korrektheten av analyserna. Eventuell exponering utifrån de råd / signaler som framkommer i analyserna görs helt och fullt på den enskilda investerarens räkning och risk. Investtech är inte ansvarig för någon form för förlust, varken direkt eller indirekt, som uppstår som en följd av att ha använt Investtechs analyser. Upplysningar om eventuella intressekonflikter kommer alltid att framgå av investeringsrekommendationen. Ytterligere information om Investtechs analyser finns på infosidan.

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