Shares Of SXC Now Oversold

In trading on Monday, shares of SunCoke Energy Inc ( SXC) entered into oversold territory, changing hands as low as $13.32 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 SunCoke Energy Inc, the RSI reading has hit 23.6 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 44.5, the RSI of Spot Gold is at 47.4, and the RSI of Spot Silver is presently 43.6.

Click here to find out what 9 other oversold metals stocks you need to know about »

A bullish investor could look at SXC's 23.6 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), SXC's low point in its 52 week range is $13.32 per share, with $24.57 as the 52 week high point — that compares with a last trade of $13.85. SunCoke Energy Inc shares are currently trading off about 6.5% on the day.

If you liked this article you might like

SunCoke Energy Doesn't Look Very Sunny

Downgrade, Charts in Agreement on SunCoke Energy

Downgrade, Charts in Agreement on SunCoke Energy

Trader's Daily Notebook: Keeping a Short Leash

United States to Withdraw From the Paris Climate Agreement, Sending Coal Stocks Higher

You've Never Heard of These 5 Stocks but They're Breaking Out