Benzinga - by Lisa Levin, Benzinga Editor.
The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Recon Technology, Ltd. (NASDAQ: RCON)
- Recon Technology subsidiary Recon BJ entered into a strategic partnership with Changxia Digital Energy Technology (Hubei) Co. to drive innovation in the petroleum and petrochemical sectors. The company’s stock has a 52-week low of $0.28 .
- RSI Value: 29.33
- RCON Price Action: Shares of Recon Technology fell 0.4% to close at $0.3038 on Tuesday.
- Camber Energy announced issuance of new patent covering transmission line ground fault prevention systems. It has a 52-week low of $0.20.
- RSI Value: 23.44
- CEI Price Action: Shares of Camber Energy fell 3.5% to close at $0.2128 on Tuesday.
- Green Plains Partners LP (NASDAQ: GPP) entered into a definitive merger agreement with Green Plains. The merger aims to simplify the corporate structure, boost earnings, and align strategic interests. The company’s stock has a 52-week low of $26.33.
- RSI Value: 27.41
- GPRE Price Action: Shares of Green Plains fell 1.3% to close at $28.82 on Tuesday.
- Jefferies recently maintained Flex LNG with a Hold and lowered the price target from $35 to $32. The company’s 52-week low is $28.34.
- RSI Value: 29.16
- FLNG Price Action: Shares of FLEX LNG fell 1.4% to close at $28.77 on Tuesday.
Read More: Fear & Greed Index Moves To 'Extreme Fear' Zone Amid Surge In Treasury Yields
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.