In trading on Thursday, shares of EnLink Midstream Partners LP
(Symbol: ENLK) entered into oversold territory, changing hands as
low as $29.92 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
In the case of EnLink Midstream Partners LP, the RSI reading has
hit 29.0 - by comparison, the universe of energy stocks covered by
currently has an average RSI of 40.8, the RSI of
WTI Crude Oil
is at 33.5, and the RSI of
Henry Hub Natural Gas
is presently 33.7. A bullish investor could look at ENLK's 29.0
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), ENLK's low
point in its 52 week range is $18.22 per share, with $35.54 as the
52 week high point - that compares with a last trade of $29.96.
EnLink Midstream Partners LP shares are currently trading down
about 1.8% on the day.
According to the ETF Finder at ETF Channel, ENLK makes up 1.66% of
the MLP ETF (Symbol: MLPA) which is trading lower by about 1.1% on
the day Thursday.
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energy stocks you need to know about »