NorthWestern Energy Group Inc Shows Signs of Becoming Oversold

Shares of NorthWestern Energy Group Inc (Symbol: NWE) fell into an oversold position this past Friday, trading as low as $50.43 each. Oversold territory, as defined by the Relative Strength Index (RSI), occurs when a stock’s momentum falls below a score of 30, on a scale from zero to 100.

The current RSI reading for NorthWestern Energy stands at 29.9. In comparison, the average RSI for energy stocks covered by Energy Stock Channel rests at 46.4. Other relevant benchmarks include WTI Crude Oil at 60.0, Henry Hub Natural Gas at 58.6, and the 3-2-1 Crack Spread at 81.3.

For bullish investors, the 29.9 RSI reading might indicate that the recent selling activity is waning, potentially opening up buy opportunities in the near future.

A glance at the company’s one-year performance shows that NWE’s lowest point in the past 52 weeks was $46.15, while the highest reached $57.49. Currently, shares trade around $50.92, remaining relatively stable throughout the day.

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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.