XLU: What’s Next for Utility Stocks?
Currently, the Utilities Select Sector SPDR ETF (XLU) is trading at $53.63—marginally above its 50-day and 5% above its 200-day moving average levels. XLU’s recent breakout above the 50-day moving average level could be seen as a positive signal. XLU’s 200-day level around $51.18 could act as a crucial support in the short term.