Eversource Energy’s Stock Finds Itself in Oversold Territory

Wednesday trading saw Eversource Energy (Symbol: ES) reach an oversold level, with shares dropping to a low of $59.88 each. The Relative Strength Index (RSI), a popular technical analysis tool that measures a stock’s momentum on a scale from zero to 100, indicates oversold conditions when readings fall below 30.

Currently, Eversource Energy’s RSI stands at 29.7. To put this in perspective, the average RSI for energy stocks within the Energy Stock Channel is 53.3. In comparison, WTI Crude Oil has an RSI of 54.8, Henry Hub Natural Gas sits at 54.9, and the 3-2-1 Crack Spread RSI is notably higher at 82.4.

For bullish investors, the 29.7 RSI reading may signal that recent intense selling could be nearing its end, presenting possible buying opportunities.

A glance at Eversource Energy’s one-year performance reveals that the stock’s lowest point in the past 52 weeks was $52.09 per share, while the highest was $69.01. Following this, the last recorded trade stood at $60.24. Notably, Eversource shares have decreased about 3% on the day.

The RSI data mentioned above was obtained from TechnicalAnalysisChannel.com.

Discover which 9 other oversold energy stocks are on the horizon »

Additional Information:

• KTH Videos
• CoStar Group MACD
• ICCH shares outstanding history

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