In trading on Friday, shares of Hallador Energy Co (HNRG - Get Report) entered into oversold territory, changing hands as low as $5.40 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 29.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 54.1, the RSI of Spot Gold is at 79.7, and the RSI of Spot Silver is presently 76.6. A bullish investor could look at HNRG's 29.9 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 $5.35 per share, with $10.40 as the 52 week high point — that compares with a last trade of $5.55. Hallador Energy Co shares are currently trading off about 2.3% on the day.
More from Stocks
Boeing Apologizes Over Release of Test Pilot's Texts About 737 MAX
Ex-pilot had reportedly said the aircraft's MCAS system was 'running rampant.'
Tesla Reports Earnings on Wednesday: 3 Key Things to Watch For
The keys to Tesla's earnings report are all drivers of the company's ability to become consistently profitable.
Zuckerberg Set to Defend Libra on Capitol Hill Next Week. Here's What to Expect
While the hearing is focused on Facebook's Libra project, the congressional grilling could also extend to Facebook's acquisitions, antitrust concerns and posture on free speech.