You're on the right track to use factory utilization. I look for an industry with utilization over 100%, but sometimes an industry will be temporarily high but be a bad choice. As you play you'll learn those.
Right now I suggest Factory Maintenence, Service, Electric Power, electrical products. Stay away from weapons (a few exceptions here), foods (other food Products has worked for me), agriculture, Mining (oil seems ok). A lot of players go with High tech (computers, electronics) and they've worked in the long run for me but they fluctuate.
Good question--good luck and have fun