 |
 |
|
|
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
 Featured MNV Articles:
| Granite Ridge Resources Stock Getting Very OversoldBy Energy Stock Channel Staff, Friday, March 10, 2:01 PM ET
In trading on Friday, shares of Granite Ridge Resources Inc (NYSE:GRNT) entered into oversold territory, changing hands as low as $5.1701 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 Granite Ridge Resources Inc, the RSI reading has hit 28.8 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 42.4, the RSI of WTI Crude Oil is at 44.1, the RSI of Henry Hub Natural Gas is presently 42.9, and the 3-2-1 Crack Spread RSI is 27.6. A bullish investor could look at GRNT's 28.8 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), GRNT's low point in its 52 week range is $5.1701 per share, with $14 as the 52 week high point — that compares with a last trade of $5.21. Granite Ridge Resources Inc shares are currently trading off about 4.4% on the day.
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
This Article's Word Cloud:
Channel
Crack
Crude
Dividend
Energy
Friday
GRNT
Granite
Henry
Index
Looking
NYSE
Natural
Newsletter
Offer
Oversold
Premium
Receive
Relative
Resources
Ridge
Special
Spread
Start
Stock
Stocks
Strength
about
afternoon
analysis
average
begin
below
best
bullish
case
changing
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: