AES Stock Is Overbought, Peers Trade in the Deep Oversold Zone
While utilities have witnessed massive weakness in the last few weeks, one of the smallest components of the S&P 500 Utilities Index (XLU) has been gaining momentum—AES (AES). AES stock has managed to gain ~5% in the past month, while broader utilities have corrected more than 10% during the same period. It’s expected to provide little or no benefits to regulated utilities.