Shares of Duke Energy Corp. (DUK) have been outperforming within the SIA S&P 100 Index Report, recently advancing into the favored zone and now ranked at position #19. Year-to-date, DUK is up 13.12%, compared to just 0.61% for the S&P 100 Equal Weight Index Fund (EWIOEF). This move is consistent with strength in the broader Utilities sector, which has also entered the favored zone of the SIA Sector Report. The Southern Company (SO), another key utility stock, has followed a similar path, reinforcing the sector’s positive momentum.
The attached point and figure chart (scaled at 2%) includes the SIA overlay, highlighting DUK’s progression into favored territory with the most recent box turning green. Technically, DUK has triggered a spread double top buy signal, with initial support identified at $113.28 and secondary support at $104.66. Resistance is projected at $132.73 and $140.85 based on vertical count analysis from previous consolidation ranges. Notably, DUK holds a perfect SIA SMAX score of 10/10, reflecting strong near-term relative strength versus a basket of alternative asset classes.
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