Dominion Energy Inc. ( D) was upgraded to a buy by TheStreet's Quant Ratings service Friday. Let's see if the charts and the quantitative story agree.
In the daily bar chart of D, below, we can see that prices recently broke out to new highs for the year. D is trading above the rising 50-day moving average line and the bullish 200-day line. The daily On-Balance-Volume (OBV) line shows a positive trend the past 12 months and started to turn up this month with prices.
The Moving Average Convergence Divergence (MACD) oscillator is in a bullish configuration above the zero line.
In the weekly bar chart of D, below, we can see a positive indicator display. Prices are in an uptrend from the first half of 2018 and they are above the rising 40-week moving average line.
The weekly OBV line is bullish and confirms the price action. The weekly MACD oscillator is now crossing to the upside for a fresh go long signal.
In this Point and Figure chart of D, below, we can see the rise from the 2018 low and an $88 price target.
Bottom-line strategy: It is great to see two or more investment strategies with similar conclusions. Traders could long D at current levels risking below $78 and looking for $88 on the upside.
