Delek Logistics Partners Enters Oversold Territory Amid Market Fluctuations

On Monday, shares of Delek Logistics Partners LP (Symbol: DKL) fell into oversold territory, trading as low as $37.80 per share. The term “oversold” is defined using the Relative Strength Index (RSI), a technical analysis tool measuring momentum on a scale from zero to 100. A stock is viewed as oversold if its RSI drops below 30.

For Delek Logistics Partners, the RSI read 29.2. In comparison, the average RSI for energy stocks tracked by Energy Stock Channel stands at 32.4. Furthermore, West Texas Intermediate (WTI) Crude Oil has an RSI of 25.1, Henry Hub Natural Gas reports an RSI of 43.3, and the 3-2-1 Crack Spread’s RSI is 53.6. Investors with a bullish outlook may interpret DKL’s RSI of 29.2 as an indication that significant selling pressure might be waning, prompting them to seek buying opportunities.

Looking at DKL’s one-year performance, the stock’s low point in its 52-week range is $37.02, while the high point reached $45.71. The last trade recorded is at $38.70, reflecting a daily decline of approximately 2.6%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.