Top 3 Energy Stocks That Could Blast Off In July
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 Pro. Here’s the latest list of major oversold players in this sector, having an RSI near or below 30. Scorpio Tankers Inc (NYSE: STNG ) On June 30, B of A Securities analyst Ken Hoexter downgraded Scorpio Tankers from Buy to Underperform and lowered the price target from $100 to $78. The company’s stock fell around 14% over the past five days and has a 52-week low of $39.03. RSI Value: 29.9 STNG Price Action: Shares of Scorpio Tankers...
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 Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Scorpio Tankers Inc (NYSE: STNG ) On June 30, B of A Securities analyst Ken Hoexter downgraded Scorpio Tankers from Buy to Underperform and lowered the price target from $100 to $78.
The company’s stock fell around 14% over the past five days and has a 52-week low of $39.03.
RSI Value: 29.9 STNG Price Action: Shares of Scorpio Tankers fell 1.2% to close at $69.26 on Tuesday.
Edge Stock Ratings: 84.16 Momentum score with Value at 87.96.
Baker Hughes Co (NASDAQ: BKR ) On June 29, Baker Hughes extended its long-term service agreement with Nigeria LNG to support critical expansion project.
The company’s stock fell around 12% over the past month and has a 52-week low of $37.76.
RSI Value: 29.6 BKR Price Action: Shares of Baker Hughes fell 1.4% to close at $55.50 on Tuesday.
Pro’s charting tool helped identify the trend in BKR stock.
Dorian LPG Ltd (NYSE: LPG ) On May 20, Dorian LPG reported better-than-expected fourth-quarter financial results.
John Hadjipateras, Chairman, President, and Chief Executive Officer of the Company, said, “Our strong results for the quarter reflect a healthy freight market and the dedication of our seagoing and shore side employees.” The company’s stock fell around 14% over the past five days and has a 52-week l ow of $23.76.
RSI Value: 29.3 LPG Price Action: Shares of Dorian LPG fell 1.3% to close at $34.78 on Tuesday.
Pro’s signals feature notified of a potential breakout in LPG shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and s ee how they compare.
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