The chart above is a weekly chart of the entire price history of the PHLX Utility Sector (UTY). (The PHLX part of the name is just an historical reference to the Philadelphia Stock Exchange, which is now part of the Nasdaq.)
I chose this specific ticker over other utility tickers like XLU or VPU because it provides more historical data and therefore a more...
Well California approved a bill to raise utility bills for its citizens to protect PCG from bankruptcy due to all the lawsuits against them for being liable for 12 wildfires. Looks like it breaks this resistance look for it to fill more of that gap. But one thing with upcoming elections must be watch if any candidates gets in to try to change this legislation...