Shares of CLNE Now Oversold

In trading on Wednesday, shares of Clean Energy Fuels Corp ( CLNE) entered into oversold territory, changing hands as low as $10.64 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 29.6 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 44.5, the RSI of WTI Crude Oil is at 54.5, and the RSI of Henry Hub Natural Gas is presently 64.9.

Click here to find out which 9 other oversold energy stocks you need to know about »

A bullish investor could look at CLNE's 29.6 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), CLNE's low point in its 52 week range is $10.63 per share, with $14.82 as the 52 week high point — that compares with a last trade of $10.71. Clean Energy Fuels Corp shares are currently trading off about 6.9% on the day.

Clean Energy Fuels Corp 1 Year Performance Chart

According to the ETF Finder at ETF Channel, CLNE makes up 1.70% of the WilderHill Progressive Energy Portfolio ETF ( PUW) which is trading relatively unchanged on the day Wednesday.

If you liked this article you might like

Just Like That, Trump Sends Energy Stocks Into a Tailspin

Clean Energy (CLNE) Stock Falls on Q3 Revenue Miss

Clean Energy Fuels (CLNE) Stock Pops on Washington Transit Contract

Clean Energy Fuels (CLNE) Stock Soars on Q2 Earnings

Futures Negative After Upbeat Trading Day, Asia Opens Flat