Benzinga - by Avi Kapoor, Benzinga Staff Writer.
The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Green Plains Inc. (NASDAQ: GPRE)
- On Jan. 23, Truist Securities analyst Jordan Levy maintained Green with a Buy and lowered the price target from $40 to $35. The company’s stock fell around 22% over the past month and has a 52-week low of $20.01 .
- RSI Value: 22.05
- GPRE Price Action: Shares of Green Plains fell 1.2% to close at $20.08 on Tuesday.
- On Jan. 2, Vertex Energy announced an amendment to its term loan agreement, securing an additional $50 million in borrowing capacity, totaling $198 million. The company’s stock fell around 51% over the past month. It has a 52-week low of $1.75.
- RSI Value: 28.08
- VTNR Price Action: Shares of Vertex Energy fell 2.6% to close at $1.85 on Tuesday.
- On Jan. 22, Okeanis Eco Tankers issued a commercial update. The company’s stock fell around 1% over the past five days and has a 52-week low of $26.51.
- RSI Value: 28.77
- ECO Price Action: Shares of Okeanis Eco Tankers gained 1.9% to close at $28.23 on Tuesday.
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