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AES Stock Is Overbought, Peers Trade in the Deep Oversold Zone

AES Stock Is Overbought, Peers Trade in the Deep Oversold Zone

While utilities have witnessed massive weakness in the last few weeks, one of the smallest components of the S&P 500 Utilities Index (XLU) has been gaining momentum—AES (AES). AES stock has managed to gain ~5% in the past month, while broader utilities have corrected more than 10% during the same period. It’s expected to provide little or no benefits to regulated utilities.