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| TechnipFMC Stock Getting Very OversoldBy Energy Stock Channel Staff, Thursday, February 18, 11:34 AM ET
In trading on Thursday, shares of TechnipFMC plc (NYSE:FTI) entered into oversold territory, changing hands as low as $7.175 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 TechnipFMC plc, the RSI reading has hit 29.8 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 58.3, the RSI of WTI Crude Oil is at 75.6, the RSI of Henry Hub Natural Gas is presently 60.5, and the 3-2-1 Crack Spread RSI is 63.5. A bullish investor could look at FTI's 29.8 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), FTI's low point in its 52 week range is $3.6756 per share, with $14.3218 as the 52 week high point — that compares with a last trade of $7.25. TechnipFMC plc shares are currently trading down about 7.1% on the day.
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