On Tuesday, shares of Tidewater Inc (Symbol: TDW) fell to $49.835, entering oversold territory. An oversold condition is identified using the Relative Strength Index (RSI), a tool that measures a stock’s momentum on a scale from zero to 100. A stock is generally considered oversold when its RSI drops below 30.
For Tidewater Inc, the RSI currently stands at 29.4. In comparison, the average RSI for energy stocks tracked by Energy Stock Channel is 54.8. WTI Crude Oil has an RSI of 41.8, while Henry Hub Natural Gas is at 62.1, and the 3-2-1 Crack Spread boasts an RSI of 80.5.
Investors who are optimistic may view Tidewater’s RSI of 29.4 as a sign that recent selling pressure is slowing down. This could signal a potential opportunity to invest.
Examining Tidewater’s performance over the past year, its lowest price was $49.835, with a peak of $111.4225. The most recent trade is at $50.16, indicating a decrease of approximately 3.8% for 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.
