United

Resistance

<ul class="list-ic vertical"> 
 <li> <span>1</span> <a>XEL stock price has surpassed the 20 day EMA, indicating buying interest in the last session.</a> </li> 
 <li> <span>2</span> <a>Buyers are gaining momentum and showcased a reversal from the channel lows.</a> </li> 
</ul> 
<p>Xcel Energy Inc. (NASDAQ: XEL) XEL share price has surpassed the 50 day exponential moving average and showcased a pullback from the demand zone of $50 highlighting the buyers’ accumulation in the last session. Furthermore, the price action shows that XEL stock has made a rejection candlestick during the selloff near $50 and bounced back decisively. XEL stock has persisted in forming the lower lows and has faced correction in the past weeks. Moreover, the XEL stock price has surpassed the 20 day EMA and is trying to retest the 100 day exponential moving average and showcased that buyers are looking to flip the downtrend and are trying to retain the channel highs near $60.&nbsp;</p> 
<p>Xcel Energy (XEL stock) XEL share price has shown buying interest and a vertical rebound in the past sessions. Furthermore, the options chain shows that, at the strike price of $60, a massive open interest of 2026 hundred shares on the call side shows a strong resistance mark which is not easy for the bulls to surpass. Along with that, the channel’s upper neckline and 100 day EMA are there, which is a major hurdle.&nbsp;</p> 
<p>At press time, XEL stock price is trading at $58.86 with an intraday gain of 1.22% showing bullishness in the last trading session. Moreover, the trading volume increased by 0.24% to 3.90 Million. The market cap is $32.463 Billion. Furthermore, analysts maintained a buy rating with a yearly target price of $65.31 suggesting a growth outlook for the next sessions.</p> 
<p>Xcel Energy, Inc. operates as a holding company engaged in the generation, purchase, transmission, distribution, and sale of electricity. It operates through the following three segments: Regulated Electric Utility, Regulated Natural Gas Utility and All Others. The Regulated Electric Utility segment generates, transmits, and distributes electricity primarily in Minnesota, Wisconsin, Michigan, North Dakota, South Dakota, Colorado, Texas, and New Mexico. In addition, this segment includes sales for resale and provides wholesale transmission service to various entities in the United States. It also includes commodity trading operations.&nbsp;</p> 
<h2 class="wp-block-heading" id="strong-will-xel-stock-price-surpass-the-channel-highs-of-60-strong"><strong>Will XEL Stock Price Surpass the Channel Highs of $60?</strong></h2> 
<div class="wp-block-image"> 
 <figure class="aligncenter">
  <img decoding="async" loading="lazy" width="1600" height="752" src="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425.png" alt="Xcel Energy Stock (XEL) Surpassed $55, Are ShortSellers Trapped?" class="wp-image-175986" srcset="https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425.png 1600w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425-300x141.png 300w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425-1024x481.png 1024w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425-768x361.png 768w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425-1536x722.png 1536w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425-750x353.png 750w, https://www.thecoinrepublic.com/wp-content/uploads/2023/10/image-425-1140x536.png 1140w" sizes="(max-width: 1600px) 100vw, 1600px">
  <figcaption class="wp-element-caption">
   Source: XEL Stock Price Chart At TradingView
  </figcaption>
 </figure>
</div> 
<p>On the daily charts, XEL stock price is trading above the 50 day EMA and is heading to retest the channel high of $60. Furthermore, the price action shows that buyers are gaining strength and are trying to extend the momentum and are willing to surpass the trendline. Additionally, XEL stock price has surpassed the 38.2% Fibonacci retracement level and is close to the 50% level near $60 which, if surpassed, a sharp up move will be unlocked which might exceed toward $70.</p> 
<p>The RSI curve is in the overbought zone and showed a positive crossover highlighting the buyer accumulation in the last few trading sessions.The MACD indicator shows a bullish crossover and green bars on the histogram suggesting a positive outlook for the coming sessions.</p> 
<h4 class="wp-block-heading"><strong>Summary&nbsp;</strong></h4> 
<p><a href="https://www.thecoinrepublic.com/2023/10/14/jpm-stock-forecast-will-jp-morgan-surpass-the-level-of-150/" target="_blank" rel="noreferrer noopener">XEL stock price </a>is trading inside the falling channel. Buyers are willing to surpass the channel highs near $60 and are trying to flip the trend. Moreover, the XEL share price has surpassed the 50 day EMA and is heading toward the 100 day EMA barrier which is close to $60. Furthermore, the price action highlights the buying interest and fresh long additions which also favor an upside.</p> 
<h4 class="wp-block-heading"><strong>Technical Levels</strong></h4> 
<p>Support Levels: $55 and $50</p> 
<p>Resistance Levels: $60 and $70</p> 
<h5 class="wp-block-heading"><strong>Disclaimer</strong></h5> 
<p>The views and opinions stated by the author or any other person named in this article are for informational purposes only and do not constitute financial, investment, or other advice. Investing in or trading crypto or stocks comes with a risk of financial loss.</p>

Xcel Energy Stock (XEL) Surpassed $55, Are Short Sellers Trapped?

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