On Thursday, shares of Brookfield Infrastructure Partners LP (BIP) dropped to $30 per share, entering oversold territory with a Relative Strength Index (RSI) reading of 29.8. This contrasts with the average RSI of 50.1 for energy stocks, and significantly lower than the RSI values of WTI Crude Oil (41.0) and Henry Hub Natural Gas (39.1).
BIP’s 52-week range shows a low of $25.72 and a high of $36.50, with the last trade recorded at $30.04, marking a decline of approximately 0.4% for the day.
Investors may interpret the 29.8 RSI as a potential buying opportunity as recent heavy selling appears to be waning.
