On TheStreet this morning, Jim Cramer points out seven sectors you can buy as the trade war continues. Let's take a look at some of these names today. The first sector Cramer notes is the utility sector with Dominion Energy (D) topping the list.
In this daily bar chart of D, below, we can see that prices have successfully tested the rising 200-day moving average line in May, June and in the past week.
The daily On-Balance-Volume (OBV) line shows a rise from early November telling us that buyers of D have been more aggressive for months. In July the OBV line has declined slightly but that might change as traders seek a safe haven in utilities.
The Moving Average Convergence Divergence (MACD) oscillator has narrowed from below the zero line and a crossover to the upside will be a cover shorts buy signal.
In this weekly bar chart of D, below, we can see an uptrend from last June. Prices are above the rising 40-week moving average line so math tells us we are in an uptrend.
The weekly OBV line is pointed up and the MACD oscillator is above the zero line with a downward bias at this point in time.
In this Point and Figure chart of D, below, we can see a potential upside price target of $84.75 being projected.
Bottom line strategy: Risking a close below $73, traders could approach the long side of D. Add on strength above $79 looking for a rally to the mid-$80's.