ARTNA Stock Crowded With Sellers

In trading on Tuesday, shares of Artesian Resources Corp. (ARTNA) entered into oversold territory, changing hands as low as $30.04 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 Artesian Resources Corp., the RSI reading has hit 25.4 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 50.4, the RSI of WTI Crude Oil is at 56.7, the RSI of Henry Hub Natural Gas is presently 39.8, and the 3-2-1 Crack Spread RSI is 45.2.

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

A bullish investor could look at ARTNA's 25.4 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), ARTNA's low point in its 52 week range is $21.32 per share, with $35.00 as the 52 week high point — that compares with a last trade of $30.18. Artesian Resources Corp. shares are currently trading off about 2.5% on the day.

Artesian Resources Corp. 1 Year Performance Chart

More from Stocks

5 Things Investors Should Read Before Coming Earnings Season Blowout

5 Things Investors Should Read Before Coming Earnings Season Blowout

In Trump Era, Managing JPMorgan Is As Unpredictable As a Midnight Tweet

In Trump Era, Managing JPMorgan Is As Unpredictable As a Midnight Tweet

Video: Don't Underestimate China's Strength in a Trade War

Video: Don't Underestimate China's Strength in a Trade War

Tesla: What Are Wall Street's Best Analysts Saying Now?

Tesla: What Are Wall Street's Best Analysts Saying Now?

Master Limited Partnerships: A Badly Missed Investment Opportunity?

Master Limited Partnerships: A Badly Missed Investment Opportunity?