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, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Sable Offshore Corp. (NYSE:SOC)
- The company’s stock fell around 10% over the past month and has a 52-week low of $10.12 .
- RSI Value: 29.40
- SOC Price Action: Shares of Sable Offshore fell 1.4% to close at $10.96 on Thursday.
Cross Timbers Royalty Trust (NYSE:CRT)
- On March 18, Argent Trust Company, as Trustee of the Cross Timbers Royalty Trust, declared a cash distribution to the holders of its units of beneficial interest of $0.019390 per unit, payable on April 12, 2024, to unitholders of record on March 28, 2024. The company’s stock fell around 24% over the past month. It has a 52-week low of $12.50.
- RSI Value: 28.10
- CRT Price Action: Shares of Cross Timbers Royalty Trust fell 0.5% to close at $13.04 on Thursday.
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