In the case of MPLX LP, the RSI reading has hit 29.7 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 51.9, the RSI of WTI Crude Oil is at 41.3, the RSI of Henry Hub Natural Gas is presently 57.2, and the 3-2-1 Crack Spread RSI is 44.0. A bullish investor could look at MPLX's 29.7 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), MPLX's low point in its 52 week range is $43.54 per share, with $54.87 as the 52 week high point — that compares with a last trade of $48.16. MPLX LP shares are currently trading down about 1.4% on the day.
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Also see:
GURE Average Annual Return OMF Historical Stock Prices
Top Ten Hedge Funds Holding AES
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
