In the case of National Grid plc, the RSI reading has hit 26.2 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 53.4, the RSI of WTI Crude Oil is at 69.4, the RSI of Henry Hub Natural Gas is presently 48.2, and the 3-2-1 Crack Spread RSI is 38.0. A bullish investor could look at NGG's 26.2 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), NGG's low point in its 52 week range is $59.5117 per share, with $94.64 as the 52 week high point — that compares with a last trade of $81.77. National Grid plc shares are currently trading down about 4.4% on the day.
Project your dividend income with confidence: Income Calendar tracks your income portfolio like a personal assistant.
Click here to find out which 9 other oversold energy stocks you need to know about »
Also see:
Stocks Conducting Buybacks That Hedge Funds Are Selling NBN Historical Stock Prices
High Yield Baby Bonds
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
