PNM Resources $PNM Dark Pool Buying On Money Flow Signal

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PNM Resources $PNM stock exploded higher on November 25, 2022, triggering a money flow buy signal. $PNM stock is in a technical uptrend. Dark pool trading occurred in $PNM stock at the end of October and mid-November 2022.

PNM Resources stock chart on November 27 2022 in an uptrend channel with a positive MACD and positive money flow
PNM Resources stock chart on November 27 2022 in an uptrend channel with a positive MACD and positive money flow

Dark Pool Buying In PNM Resources $PNM Stock

Dark pool trading occurred in the stock on October 28, 2022, and November 16, 2022. The October 2022 dark pool order was valued at $11 million and the November 2022 order was valued at $7 million. We think the dark pool trades were buying because $PNM stock rose following the prints hitting the tape.

PNM Resources stock chart on November 27 2022 with dark pool trades shown with orange bars
PNM Resources stock chart on November 27 2022 with dark pool trades shown with orange bars

We are seeing a defensive rotation into Utility stocks that offer income/dividend payouts. As the rest of the economy continues to slow from Federal Reserve rate hikes, defensive utility stocks are seeing inflows of investment dollars.

The industry that the world cannot function without is utilities. The gas that powers your hot water heater, the lights in every room, and the water that comes out of our faucets are all produced by utility companies. Because of this, the utilities sector is a vital component of our daily lives.

Here’s why utilities are a gift to equity investors, according to DWS’ Bianco

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