Publish date:

Cloud Peak Energy (CLD) Shares Enter Oversold Territory

In trading on Thursday, shares of Cloud Peak Energy Inc entered into oversold territory, changing hands as low as $2.76 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.

In trading on Thursday, shares of Cloud Peak Energy Inc (CLD) - Get Cloud Peak Energy Inc. Report entered into oversold territory, changing hands as low as $2.76 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 Cloud Peak Energy Inc, the RSI reading has hit 29.98 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 46.3, the RSI of Spot Gold is at 56.7, and the RSI of Spot Silver is presently 50.9.

START SLIDESHOW:
Click here to find out what 9 other oversold dividend stocks you need to know about »

Image placeholder title

TheStreet Recommends

A bullish investor could look at CLD's 29.98 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), CLD's low point in its 52 week range is $2.76 per share, with $5.70 as the 52 week high point — that compares with a last trade of $2.90. Cloud Peak Energy Inc shares are currently trading off about 10.1% on the day.

Cloud Peak Energy Inc 1 Year Performance Chart