Utility names are basing out, keep an eye out for a breakout move higher in the short term
VPU $VPU Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
VPU tracks a broad-based, market-cap-weighted index of US utilities companies. Important information: Our goal is to help everyone find information and ideas about investing, asset ownership and wealth creation. The Market Week was created by investors for investors. We believe in a free exchange of ideas for investing, income generation, wealth building. We...
Utilities have been trading in a tight range since the pandemic. Buy when it gets to the bottom of the range, sell/trim or write covered calls when it gets to the top of the range.
I want to be very cautious about VPU as a correction might be underway.
Looks similar but uncertain. But the real deal is if it will ever break the red support. We will see.
VPU had a golden cross last week but this week was down hard. So far on the weekly it is still bullish.
Strong rebound for the past 4 trading days due to oversold.