In trading on Monday, shares of Ship Finance International Ltd (SFL) entered into oversold territory, changing hands as low as $14.12 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.In the case of Ship Finance International Ltd, the RSI reading has hit 26.2 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.1, the RSI of WTI Crude Oil is at 41.0, and the RSI of Henry Hub Natural Gas is presently 42.8.
Shares Of SFL Now Oversold
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