The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.
Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.
Tellurian Inc. (NYSE:TELL)
- Baker Hughes penned a deal with Tellurian for securing eight main refrigerant compression packages for Phase 1 of the Driftwood LNG project. “This agreement builds on the established collaboration between Baker Hughes and Tellurian as we continue to execute on our scope for the Driftwood Pipeline 200, which includes providing zero-emissions ICL compressor packages for their first deployment in North America,” said Lorenzo Simonelli, chairman and CEO of Baker Hughes. The company’s stock has a 52-week low of $0.70 .
- RSI Value: 25.80
- TELL Price Action: Shares of Tellurian fell 1.4% to close at $0.7568 on Tuesday.
Verde Clean Fuels, Inc. (NASDAQ:VGAS)
- Verde Clean Fuels posted a second-quarter loss of 12 cents per share. “During the second quarter, Verde’s business continued to progress meaningfully toward the first commercial deployment of our proprietary syngas-to-gasoline, or STG+, process,” said Ernie Miller, CEO of Verde. It has a 52-week low of $2.75.
- RSI Value: 24.72
- VGAS Price Action: Shares of Verde Clean Fuels gained 4.5% to close at $2.99 on Tuesday.
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