Shares of WG Now Oversold

In trading on Monday, shares of Willbros Group Inc (WG) entered into oversold territory, changing hands as low as $11.39 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 Willbros Group Inc , the RSI reading has hit 29.3 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.3, the RSI of WTI Crude Oil is at 32.3, and the RSI of Henry Hub Natural Gas is presently 34.8.

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

A bullish investor could look at WG's 29.3 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), WG's low point in its 52 week range is $7.11 per share, with $13.69 as the 52 week high point — that compares with a last trade of $11.39. Willbros Group Inc shares are currently trading off about 1.6% on the day.

Willbros Group Inc  1 Year Performance Chart

More from Stocks

Stocks Loses Steam as Yields Hover Near 3% Threshold

Stocks Loses Steam as Yields Hover Near 3% Threshold

How Elon Musk Controls Tesla With Only a Minority Ownership Stake

How Elon Musk Controls Tesla With Only a Minority Ownership Stake

Tesla Is Taking Apple's Ecosystem Model Up a Notch

Tesla Is Taking Apple's Ecosystem Model Up a Notch

After Facebook, Google's Data Practices May Be Under Fire Next

After Facebook, Google's Data Practices May Be Under Fire Next

Video: Jim Cramer on What Trade Tariffs and Rising Rates Mean for Stocks

Video: Jim Cramer on What Trade Tariffs and Rising Rates Mean for Stocks