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RNGR Crosses Below Key Moving Average Level
Wednesday, June 22, 4:10 PM ET, by Market News Video Staff

In trading on Wednesday, shares of Ranger Energy Services Inc (RNGR) crossed below their 200 ...

Shares of RNGR Now Oversold
Monday, August 1, 11:22 AM ET, by Market News Video Staff

In trading on Monday, shares of Ranger Energy Services Inc (RNGR) entered into oversold territory, ...

Shares of RNGR Now Oversold

By Energy Stock Channel Staff, Monday, August 1, 11:22 AM ET
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In trading on Monday, shares of Ranger Energy Services Inc (NYSE:RNGR) entered into oversold territory, changing hands as low as $8.66 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 Ranger Energy Services Inc, the RSI reading has hit 27.4 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 56.7, the RSI of WTI Crude Oil is at 36.5, the RSI of Henry Hub Natural Gas is presently 51.8, and the 3-2-1 Crack Spread RSI is 35.8.

A bullish investor could look at RNGR's 27.4 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), RNGR's low point in its 52 week range is $6.65 per share, with $11.87 as the 52 week high point — that compares with a last trade of $8.74. Ranger Energy Services Inc shares are currently trading off about 4.9% on the day.

Ranger Energy Services Inc 1 Year Performance Chart


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