|
Featured MNV Articles:
| Shares of ELP Now OversoldBy Energy Stock Channel Staff, Tuesday, January 2, 12:07 PM ET
In trading on Tuesday, shares of Companhia Paranaense De Energia - COPEL (NYSE:ELP) entered into oversold territory, changing hands as low as $8.315 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 Companhia Paranaense De Energia - COPEL, the RSI reading has hit 29.5 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 54.3, the RSI of WTI Crude Oil is at 42.5, the RSI of Henry Hub Natural Gas is presently 44.1, and the 3-2-1 Crack Spread RSI is 52.6. A bullish investor could look at ELP's 29.5 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), ELP's low point in its 52 week range is $6.005 per share, with $10.64 as the 52 week high point — that compares with a last trade of $8.34. Companhia Paranaense De Energia - COPEL shares are currently trading off about 1.7% on the day.
Free Report: Top 8%+ Dividends (paid monthly)
This Article's Word Cloud:
COPEL
Channel
Companhia
Crack
Crude
Dividends
Energia
Energy
Free
Henry
Index
Looking
NYSE
Natural
Oversold
Paranaense
Relative
Report
Spread
Start
Stock
Stocks
Strength
Tuesday
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
|