Overview of RSI and DTE’s Current Position
In trading on Thursday, shares of DTE Energy Co (Symbol: DTE) fell into oversold territory, trading as low as $115.59 per share. The term “oversold” describes a stock that experiences heavy selling, identified through the Relative Strength Index (RSI). This technical analysis tool measures momentum on a scale from zero to 100, with values below 30 indicating oversold conditions.
DTE Energy Co’s current RSI stands at 29.7. For context, the average RSI for energy stocks tracked by Energy Stock Channel is 54.6. In comparison, WTI Crude Oil’s RSI is at 53.9, Henry Hub Natural Gas sits at 54.4, and the 3-2-1 Crack Spread has a relatively high RSI of 81.2.
Investors with a bullish outlook might interpret DTE’s 29.7 reading as a signal that the recent selling pressure may be subsiding, prompting them to consider potential buying opportunities.
Reviewing the past year, DTE’s shares reached a low of $97.31 and a high of $131.665 over a 52-week range, with the recent trading price at $117.80. As of now, DTE Energy Co shares are down approximately 3.1% on the day.
The RSI data for DTE was sourced from TechnicalAnalysisChannel.com
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
