In trading on Wednesday, shares of Dawson Geophysical Co. (DWSN) entered into oversold territory, changing hands as low as $21.15 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 Dawson Geophysical Co., the RSI reading has hit 27.0 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 39.8, the RSI of WTI Crude Oil is at 40.6, and the RSI of Henry Hub Natural Gas is presently 42.9. START SLIDESHOW:
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