NRG Energy (NRG) lost ground for much of last year, but prices have begun to stabilize the past two months.
The price of NRG is back above the 50-day simple moving average. The On-Balance-Volume (OBV) line is rising and the Moving Average Convergence Divergence (MACD) oscillator is getting positive. These technical clues are all positive and strongly suggest the worst is over for NRG. A two-month based pattern is not bad, but it is likely to be the start of a longer period of consolidation. I suspect a broader trading range between $10 and $15 is possible for NRG as it develops a bigger base pattern.
It is a slow process, but this weekly chart of NRG, above, is coming around. The On-Balance-Volume (OBV) line is stable and moving sideways. The price is stable. In the bottom panel, the trend-following MACD oscillator crossed over, giving a "cover shorts" buy signal. Aggressive traders could go long NRG at current levels and add to positions on strength. Utilities have become the bright light in the bear market.