Yesterday, we looked at a Daily Price Chart and an On Balance Volume Chart for Sunrun Inc., noting that the stock has been in a price uptrend.
Today’s Chart of the Day is a Daily Price Chart for Dominion Energy, Inc. (NYSE: D).
Dominion Energy, Inc. produces and transports energy. The company’s Power Delivery segment engages in the regulated electric transmission and distribution operations that serve residential, commercial, industrial, and governmental customers in Virginia and North Carolina. Its Power Generation segment is involved in the electricity generation activities. The company’s Gas Infrastructure segment engages in the regulated natural gas distribution, gas transmission pipeline and storage, liquefied natural gas, and nonregulated retail natural gas marketing operations, as well as natural gas gathering and processing activities.
Now, below is a Daily Price Chart for Dominion Energy, Inc.
Back in September 2018, the D 1-Month price crossed above the 10-Month simple moving-average (SMA) indicating D is on a PowerTrend ‘buy’ signal (circled).
From that point forward, D has made solid strides in its stock price.
If you had purchased D shares when the PowerTrend ‘buy’ signal occurred for the stock back in September 2018, when the stock was around $70.28, you’d be up 20.27% by now.
Not a bad profit for a year-and-a-half-hold of a major utility provider.
Now, as you can see, the 1-Month moving-average is still above the 10-Month SMA. That means the bullish trend is still in play!
As long as the 1-Month Price remains above the 10-Month SMA, the stock is more likely to keep trading at new highs in the coming days and weeks.
We’ll be keeping our eye on this stock as it continues to trend upward so we’ll know the moment the market conditions shift and the stock begins to come back down.
Editor, Chart Of The Day