Not a great chart for Utilities against the S&P. Below 200 week, might go down to historic support or even breach it. Frankly I view Utilities as bullish with the expected data center needs + electricity demand growth however a stagflationary environment can be negative for utilities and a higher rate environment as well.
A higher term premium with stable economic growth may be the worst environment for utilities on a relative basis. When it is put like that, utilities may continue underperforming.
Will revisit if trend picks up and the sector can break above the moving average and resistance.
A higher term premium with stable economic growth may be the worst environment for utilities on a relative basis. When it is put like that, utilities may continue underperforming.
Will revisit if trend picks up and the sector can break above the moving average and resistance.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.