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Clearway Energy Stock Getting Very Oversold

By Energy Stock Channel Staff, Monday, February 26, 3:52 PM ET
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In trading on Monday, shares of Clearway Energy Inc (NYSE:CWEN) entered into oversold territory, changing hands as low as $21.6298 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 Clearway 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 50.9, the RSI of WTI Crude Oil is at 57.4, the RSI of Henry Hub Natural Gas is presently 30.6, and the 3-2-1 Crack Spread RSI is 42.5.

A bullish investor could look at CWEN'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), CWEN's low point in its 52 week range is $18.59 per share, with $32.24 as the 52 week high point — that compares with a last trade of $21.78. Clearway Energy Inc shares are currently trading off about 1.8% on the day.

Clearway Energy Inc 1 Year Performance Chart

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This Article's Word Cloud:   CWEN   Channel   Clearway   Crack   Crude   Dividend   Energy   Henry   Index   Looking   Monday   NYSE   Natural   Newsletter   Offer   Oversold   Premium   Receive   Relative   Special   Spread   Start   Stock   Stocks   Strength   about   afternoon   analysis   average   begin   below   best   bullish   case   changing   chart   compares   currently   look   mdash   oversold   point   reading   share   shares   territory   that   trading   week   with

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