PG&E’s Short Interest after Its 4Q17 Results
Relative strength index
PG&E (PCG) stock continues to trade in the deep “oversold” zone with its RSI (relative strength index) at 16.
According to technical analysts, a stock is considered to be trading in the “oversold” zone when its RSI falls below 30. A stock is considered to be trading in the “overbought” zone when its RSI rises above 70. Extreme RSI levels might indicate an imminent reversal in the stock’s direction.
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PG&E stock looks substantially weak considering its simple moving average levels. On February 9, 2018, PG&E stock was trading 16% and 36% lower than its 50-day and 200-day moving average levels, respectively. The enormous discount to both of the key moving averages underlines the huge weakness in the stock. PCG stock is trading close to its 52-week low of $37.3.
According to the latest report, the short interest in PG&E stock decreased 11% on January 31, 2018. The total shorted shares in PG&E stock were 8.8 million on January 12. The shorted shares declined to 7.8 million on January 31, 2018. The fall in the short interest means that fewer investors expect the stock to fall from the current levels.
The short interest is the number of shares that are sold short and not covered back yet. The short interest measures investors’ anxiety.
Many utilities (XLU) (IDU) (VPU) stocks are currently trading at their 52-week lows. To learn more, read S&P 500 Utilities at a 52-Week Low Offer a Big Gain Potential.