12 Oct

NextEra Energy (NEE) Stock falls for 5th day, Trend is Up but RSI Oversold

October 12, 2022

By InvestMacro.com | #stocks #NEE

NextEra Energy, Inc. End of Day Update: October 12 2022

The NextEra Energy, Inc. (NEE) stock finished the day with a slide by -3.71 percent and closed the day around the 73.0 price level, according to unofficial data at the New York close.

NEE, an energy company and electric utility with a market cap of over $140 billion, opened the day trading at 75.81 with the high of the day being 76.36 and the low of the day at 72.98.

This is the fifth consecutive day that the NEE stock has fallen and this streak has taken almost $10 off the stock value. NEE is now trading at the lowest level since June 22nd when the stock was on its way up and looks to test the major support level at $70.

The NEE Trend is Higher, RSI level is Bearish-Oversold

Despite, the recent declines, the NEE stock price is currently trending higher over the past 200 trading days, according to the linear regression line (red) seen in the chart below.

The Relative Strength Index, an indicator that can identify overbought (above 70) and oversold levels (below 30), shows that the current RSI is at a 27.5 score. This a Bearish-Oversold reading on the daily time-frame.

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The chart below shows our slightly modified version of the RSI that uses a 3-period moving average to smooth the RSI output and signals.

NextEra Energy (NEE) Stock falls for 5th day, Trend is Up but RSI Oversold

NEE Price Returns (Closing Price Changes)

The NEE has slid by -11.38 percent over the past 10 days while seeing a decline of -14.82 over the past 30 days. The 90-day change is -6.78 while the 180-day return and the 365-day return are -1.22 and -1.90, respectively.

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