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.
Baker Hughes Co (NASDAQ:BKR)
- Baker Hughes is not witnessing a slowdown in its significant energy projects, CEO Lorenzo Simonelli recently confirmed. The robust demand for natural gas and power, driven by the global expansion of artificial intelligence infrastructure, is the key factor behind this trend. The company’s stock fell around 11% over the past five days and has a 52-week low of $43.92.
- RSI Value: 29.9
- BKR Price Action: Shares of Baker Hughes fell 0.7% to close at $56.32 on Wednesday.
- Edge Stock Ratings: 47.91 Momentum score with Value at 66.78.
CNX Resources Corp (NYSE:CNX)
- On July 30, CNX Resources posted mixed quarterly results. The company’s stock fell around 9% over the past five days and has a 52-week low of $29.22.
- RSI Value: 27.6
- CNX Price Action: Shares of CNX Resources fell 4.8% to close at $33.71 on Wednesday.
- Benzinga Pro’s charting tool helped identify the trend in CNX stock.
Core Laboratories Inc (NYSE:CLB)
- On July 29, Core Laboratories posted mixed results for the second quarter. Core’s CEO, Larry Bruno, said, “Our second quarter results displayed sequential improvement in revenue, operating income and earnings per share despite continued geopolitical conflicts that affected portions of our business, particularly Reservoir Description.” The company’s stock fell around 10% over the past five days and has a 52-week low of $9.79.
- RSI Value: 27.3
- CLB Price Action: Shares of Core Laboratories fell 6.6% to close at $11.45 on Wednesday.
- Benzinga Pro’s signals feature notified of a potential breakout in CLB shares.
Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare.
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