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Vertex Energy (VTNR) Shares Enter Oversold Territory
Monday, August 16, 11:34 AM ET, by Market News Video Staff

In trading on Monday, shares of Vertex Energy Inc. (VTNR) entered into oversold territory, changing ...

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Vertex Energy (VTNR) Shares Enter Oversold Territory

By Energy Stock Channel Staff, Monday, August 16, 11:34 AM ET
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In trading on Monday, shares of Vertex Energy Inc. (NASDAQ:VTNR) entered into oversold territory, changing hands as low as $7.72 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 Vertex Energy Inc., 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 45.6, the RSI of WTI Crude Oil is at 37.5, the RSI of Henry Hub Natural Gas is presently 51.7, and the 3-2-1 Crack Spread RSI is 59.1.

A bullish investor could look at VTNR'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), VTNR's low point in its 52 week range is $0.4005 per share, with $14.32 as the 52 week high point — that compares with a last trade of $7.83. Vertex Energy Inc. shares are currently trading down about 3.2% on the day.

Vertex Energy Inc. 1 Year Performance Chart


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