In trading on Friday, shares of Clean Energy Fuels Corp (CLNE) entered into oversold territory, changing hands as low as $9.71 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 Clean Energy Fuels Corp, the RSI reading has hit 28.6 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.9, the RSI of WTI Crude Oil is at 27.6, and the RSI of Henry Hub Natural Gas is presently 33.0.
CLNE Stock Crowded With Sellers
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