Current Trading Status and Technical Insights
In trading on Friday, shares of Oceaneering International, Inc. (Symbol: OII) fell into oversold territory, reaching a low of $22.38 per share. The term “oversold” is measured using the Relative Strength Index (RSI), a key indicator in technical analysis that assesses momentum on a scale of zero to 100. When a stock’s RSI drops below 30, it is deemed oversold.
For Oceaneering International, Inc., the RSI has decreased to 28.4. For context, the average RSI for energy stocks tracked by Energy Stock Channel stands at 49.6. Meanwhile, WTI Crude Oil has an RSI of 44.5, Henry Hub Natural Gas is at 64.8, and the 3-2-1 Crack Spread RSI is currently at 68.4.
Investors with a bullish outlook might interpret OII’s RSI of 28.4 as a sign that the recent intense selling could be winding down, suggesting potential buying opportunities may arise soon.
Performance Overview
A look at OII’s one-year performance reveals that the lowest point in its 52-week range is $19.68 per share, while the highest reached $30.975. Currently, the last trade price is $22.43, indicating that Oceaneering shares are down about 7% for the day.
Click here to find out which 9 other oversold energy stocks you need to know about »
Additional Resources:
• JDJL Videos
• Top Ten Hedge Funds Holding RAAX
• EXE Average Annual Return
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
