The chart below is XEJ, the Energy Sector, overlaid with the price performance of WPL, STO and SXY to show how those stocks move compared with the index. As could be expected, large players like WPL and STO closely mirror the index, while a more flighty stock like SXY does have times of divergence. Since the Covid fall last year all 3 companies have been in lockstep.

The overall index appears to have recently started a new price cycle and coming off that significant low, rising prices could be expected for a time. If the sector can break through and hold above 9,170 a short-term target of 10,850 is in play.

The overall outlook for the sector is bullish.

XEJ compare 4 June 21

Contact

Robert Norman

Phone: 0428 346 951
Email: robert@sharecharting.com.au

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