 |
 |
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Featured MNV Articles:
| Summit Midstream Partners (SMLP) Shares Enter Oversold TerritoryBy Energy Stock Channel Staff, Friday, October 29, 11:24 AM ET
In trading on Friday, shares of Summit Midstream Partners LP (NYSE:SMLP) entered into oversold territory, changing hands as low as $30.61 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 Summit Midstream Partners LP, the RSI reading has hit 29.9 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 52.1, the RSI of WTI Crude Oil is at 59.9, the RSI of Henry Hub Natural Gas is presently 49.6, and the 3-2-1 Crack Spread RSI is 46.2. A bullish investor could look at SMLP's 29.9 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), SMLP's low point in its 52 week range is $9.63 per share, with $46.64 as the 52 week high point — that compares with a last trade of $30.61. Summit Midstream Partners LP shares are currently trading down about 6% on the day.
Free Report: Top 7%+ Dividends (paid monthly)
This Article's Word Cloud:
Channel
Crack
Crude
Dividends
Energy
Free
Friday
Henry
Index
Looking
Midstream
NYSE
Natural
Oversold
Partners
Relative
Report
SMLP
Spread
Start
Stock
Stocks
Strength
Summit
about
analysis
average
begin
below
bullish
case
changing
chart
compares
comparison
considered
could
currently
look
mdash
oversold
point
reading
share
shares
territory
that
trading
week
with
|
Play Video:
Learn About The RSI
Free Email Alerts By Stock:
Start slideshow: