Don’t miss out on the opportunity to invest in undervalued energy stocks.
The Relative Strength Index (RSI) is a momentum indicator that compares a stock’s strength on days when prices rise to its strength on days when prices fall. A stock is considered oversold when its RSI is below 30, suggesting potential for short-term growth.
Here are some major oversold energy stocks with an RSI near or below 30:
Borr Drilling Limited BORR
- Borr Drilling’s premium jack-up rigs “Prospector 5” and “Natt” have secured a $211 million contract for work in West Africa from an undisclosed customer. The stock’s 52-week low is $3.22.
- RSI Value: 29.91
- BORR Price Action: On Thursday, shares of Borr Drilling fell 2.5% to close at $6.99.
Drilling Tools International Corp. DTI
- Drilling Tools International reported a decline in second-quarter EPS. Its 52-week low is $3.74.
- RSI Value: 28.11
- DTI Price Action: On Thursday, shares of Drilling Tools International fell 3.5% to close at $3.85.
Cosan S.A. CSAN
- The company’s shares have fallen around 14% in the past month. Its 52-week low is $10.13.
- RSI Value: 26.98
- CSAN Price Action: On Thursday, shares of Cosan fell 4.9% to close at $14.21.
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