In buying and selling on Tuesday, shares of Calumet Specialty Product Companions LP (Image: CLMT) entered into oversold territory, altering arms as little as $13.66 per share. We outline oversold territory utilizing the Relative Energy Index, or RSI, which is a technical evaluation indicator used to measure momentum on a scale of zero to 100. A inventory is taken into account to be oversold if the RSI studying falls beneath 30.
Within the case of Calumet Specialty Product Companions LP, the RSI studying has hit 28.4 — by comparability, the universe of vitality shares lined by Power Inventory Channel presently has a median RSI of 56.4, the RSI of WTI Crude Oil is at 72.1, the RSI of Henry Hub Pure Gasoline is presently 44.1, and the 3-2-1 Crack Unfold RSI is 38.7.
A bullish investor may have a look at CLMT’s 28.4 studying as an indication that the current heavy promoting is within the means of exhausting itself, and start to search for entry level alternatives on the purchase facet.
a chart of 1 12 months efficiency (beneath), CLMT’s low level in its 52 week vary is $11.91 per share, with $19.9136 because the 52 week excessive level — that compares with a final commerce of $13.70. Calumet Specialty Product Companions LP shares are presently buying and selling down about 1.6% on the day.
Click on right here to seek out out which 9 different oversold vitality shares you must find out about »
Additionally see:
Holdings Channel
Prime Ten Hedge Funds Holding TBBK
TFPM Choices Chain
The views and opinions expressed herein are the views and opinions of the creator and don’t essentially mirror these of Nasdaq, Inc.
Adblock check (Why?)