|
Featured MNV Articles:
| OTTR Stock Crowded With SellersBy Energy Stock Channel Staff, Friday, October 20, 4:16 PM ET
In trading on Friday, shares of Otter Tail Corp. (NASDAQ:OTTR) entered into oversold territory, changing hands as low as $69.54 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 Otter Tail Corp., the RSI reading has hit 29.6 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 48.1, the RSI of WTI Crude Oil is at 53.9, the RSI of Henry Hub Natural Gas is presently 48.2, and the 3-2-1 Crack Spread RSI is 51.6. A bullish investor could look at OTTR's 29.6 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), OTTR's low point in its 52 week range is $52.60 per share, with $92.74 as the 52 week high point — that compares with a last trade of $70.08. Otter Tail Corp. shares are currently trading off about 2.1% on the day.
Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
This Article's Word Cloud:
Channel
Corp
Crack
Crude
Days
Dollars
Energy
Friday
Henry
Index
Join
Looking
Natural
OTTR
Offer
Otter
Oversold
Relative
Seven
Special
Spread
Start
Stock
Stocks
Strength
Tail
ValueForum
about
analysis
average
begin
below
bullish
case
changing
chart
compares
currently
look
mdash
oversold
point
reading
share
shares
territory
that
trading
week
with
|