While many stocks in the market were crushed in January, Xcel Energy (XEL) broke out to the upside.
In this chart of XEL, above, we can see prices moving up with the rising 50- and 200-day moving averages. Also notice that the On-Balance-Volume (OBV) line has been going up since June. In addition, the Moving Average Convergence Divergence (MACD) oscillator is in a bullish position.
This longer-term chart of XEL, above, is very positive. We can see a strongly rising OBV line on a weekly time frame. We can see prices above a rising 40-week moving average. We see a bullish MACD oscillator. Everything technical points to higher prices. We suggest buying a shallow dip, looking for a rally to the mid-$40s. Remember to use an appropriate stop loss, too.