In trading on Monday, shares of National Fuel Gas Co. (NFG - Get Report) entered into oversold territory, changing hands as low as $56.92 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 National Fuel Gas Co. , the RSI reading has hit 29.0 — 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. A bullish investor could look at NFG's 29.0 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), NFG's low point in its 52 week range is $43.82 per share, with $64.58 as the 52 week high point — that compares with a last trade of $57.13. National Fuel Gas Co. shares are currently trading down about 1.9% on the day. According to the ETF Finder at ETF Channel, NFG makes up 1.20% of the Unconventional Oil & Gas ETF ( FRAK) which is trading relatively unchanged on the day Monday.
TheStreet’s Fundamentals of Investing Course will teach you the keys to making the right decisions in any market.
TheStreet’s Personal Finance Essentials Course will teach you money management basics and investing strategies to help you avoid major financial pitfalls.
TheStreet Courses offers dedicated classes designed to improve your investing skills, stock market knowledge and money management capabilities.
More from Stocks
How a Former NYSE Trader Learned to Trade From His Dad
TheStreet honors Dad's this Father's Day. A former how his dad taught him to invest and the lessons he learned along the way.
Dow Ends Lower in Narrow Trading Friday; Markets Shrug Off Global Tensions
Stocks retreat Friday over disappointment over Broadcom's revenue warning and uncertainty over trade talks and interest rates.
Jim Cramer: A 'Hard Left' Democratic President Would Be a 'Disaster' for Stocks
That's one of the biggest macro risks he sees for Wall Street right now.