Crescent Energy Co’s Shares Hit Oversold Levels Amid Market Fluctuations
On Wednesday, shares of Crescent Energy Co (Symbol: CRGY) slid into oversold territory, trading as low as $13.54 per share. This status is determined by the Relative Strength Index (RSI), a technical analysis tool used to gauge momentum on a scale from zero to 100. A stock is classified as oversold when its RSI reading falls below 30.
Crescent Energy Co’s RSI reading has dropped to 29.2. In contrast, the average RSI for the broader energy stock sector monitored by Energy Stock Channel is at 48.0. To add perspective, WTI Crude Oil’s RSI sits at 39.9, Henry Hub Natural Gas stands at 54.9, and the 3-2-1 Crack Spread RSI is at 66.9.
A bullish investor might interpret CRGY’s 29.2 RSI as a potential sign that the intense selling pressure is nearing exhaustion, prompting them to look for potential buying opportunities.
Analyzing the stock’s performance over the past year, CRGY’s lowest point was $9.88 per share, while the highest level reached was $16.9398. The latest trade shows a price of $13.56, reflecting a decline of approximately 0.9% for the day.
Free Report: Top 8%+ Dividends (paid monthly)
Click here to find out which 9 other oversold energy stocks you need to know about »
Also see:
- Institutional Holders of EQT
- Institutional Holders of ERIC
- Funds Holding QJUN
The views and opinions expressed herein are those of the author and do not necessarily represent the views of Nasdaq, Inc.
