In trading on Thursday, shares of Hallador Energy Co (HNRG - Get Report) entered into oversold territory, changing hands as low as $11.90 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 Hallador Energy Co, the RSI reading has hit 26.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 44.0, the RSI of Spot Gold is at 28.8, and the RSI of Spot Silver is presently 27.0. A bullish investor could look at HNRG's 26.9 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), HNRG's low point in its 52 week range is $6.58 per share, with $14.35 as the 52 week high point — that compares with a last trade of $12.36. Hallador Energy Co shares are currently trading down about 3.1% on the day.
More from Stocks
Snap's Mixed Indicators Signal Cautious Approach to Its Resurgent Shares
The social media company's stock already has tripled in value since late last year, and a modest correction could be at hand before its shares renew gains.
Qualcomm Could Feel Pain From an Apple-Intel Chip Deal
Apple has historically looked for opportunities to build chips for its own devices, cutting out suppliers.
Watch at 1 p.m. ET: How to Invest in the Coming Fintech Revolution
TheStreet's Stephen 'Sarge' Guilfoyle hosts a free half-hour Webinar with top experts on how to make money in the emerging field of fintech and digital payments.
Dow Jumps on Solid Earnings From Coca-Cola, United Technologies
Stocks are rising Tuesday as investors are buoyed by strong earnings reports and continued hopes that central banks around the world will ease interest rates.