On Thursday, October 5, 2023, shares of Imperial Oil Ltd (symbol: IMO) dropped to a low of $47.72, entering oversold territory with a Relative Strength Index (RSI) of 28.8. A stock is deemed oversold when its RSI falls below 30. This contrasts with an average RSI of 46.4 for energy stocks, and lower figures for WTI Crude Oil (44.8) and Henry Hub Natural Gas (52.6).
Imperial Oil’s 52-week performance shows a low of $31.71 and a high of $58.985, with the current trading level at $47.84, marking a decline of about 1.7% for the day. Investors may view the low RSI as a potential indicator for buying opportunities as selling momentum may be waning.
