|Day Low/High||6.36 / 6.69|
|52 Wk Low/High||6.33 / 19.10|
In trading on Tuesday, shares of Halcon Resources Corp entered into oversold territory, changing hands as low as $6.65 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.
Strength in certain names has been sold, but I don't think the small-cap oils trade is over.
Stock picking is going to be particularly important next week.
Cheap crude, high gasoline demand and the ability to export product bode well for downstream energy companies.
The enthusiasm about U.S. recovery in fracked oil is way premature.
This game is about the pace and sustainability of a global rebalancing of the oil market.