There's momentum in these stocks.
Investors are naturally drawn to stocks they think are set to rise. Utility investors are no exception, though dividend income and low volatility are prime drivers for most. Throw in the potential for a little capital appreciation? Sure, why not?
That's why the recent price action in two utilities has caught the attention of chart watchers. The stocks of both companies spent the past month building double bottoms and now they're breaking out to the upside.
The AES Corporation (NYSE: AES) is a Virginia company formerly known as Applied Energy