Utilities Stocks Holding Steady Despite Turmoil

Despite a downside reversal in the major indices, the utilities sector is showing strength, currently up 0.6% on the day – the strongest area of the market. The strongest stocks in the S&P 500 Utilities Sector currently are: 1) Duke Energy DUK: Shares of Duke Energy are currently trading up 1.3% from yesterday's close to $18.64. The stock broke above its 50-day simple moving average (one year daily chart) in today's session. Shares may look to test their 52-week high of $19.34, which was set on May 19th. 2) Pacific Gas & Elecric PCG: Shares of Pacific Gas & Electric are currently trading up 1.2% from yesterday's close to $41.95. The stock has built strong support at the $41.50 level. After that, no support comes into play until $39.64. 3) Progress Energy PGN: Shares of Progress Energy are currently trading up 1.2% from yesterday's close to $47.49. The stock broke above its 50-day simple moving average (one year daily chart) in today's action. Shares may look to test their 52-week high of $49.03, which was set on May 17th. 4) NextEra Energy NEE: Shares of NextEra Energy are currently trading up 1% from yesterday's close to $56.04. The stock broke above its 50-day simple moving average (one year daily chart) in today's action. Shares are coming into resistance via a downward sloping trend line dating back to May 13th (three month daily chart). 5) Centerpoint Energy CNP: Shares of Centerpoint Energy are currently trading up 0.9% from yesterday's close to $18.66. The stock has been steadily sold off since hitting a 52-week high of $19.57 on June 1st. Shares are sitting on top of their 50-day simple moving average (one year daily chart), which is currently $18.45.