Markets

NuStar Energy (NS) Shares Enter Oversold Territory

In trading on Friday, shares of NuStar Energy L.P. (Symbol: NS) entered into oversold territory, changing hands as low as $33.52 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 NuStar Energy L.P., the RSI reading has hit 29.2 - by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 38.1, the RSI of WTI Crude Oil is at 29.8, the RSI of Henry Hub Natural Gas is presently 36.2, and the 3-2-1 Crack Spread RSI is 57.7. A bullish investor could look at NS's 29.2 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), NS's low point in its 52 week range is $31.20 per share, with $68.10 as the 52 week high point - that compares with a last trade of $33.55. NuStar Energy L.P. shares are currently trading off about 4.8% on the day.

NuStar Energy L.P. 1 Year Performance Chart

According to the ETF Finder at ETF Channel, NS makes up 3.47% of the MLP ETF (Symbol: MLPA) which is trading lower by about 5.7% on the day Friday.

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

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MLPA NS

Other Topics

Commodities

Latest Markets Videos

    BNK Invest

    BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally.

    Learn More