NRG Stock Crowded With SellersBy Energy Stock Channel Staff, Thursday, May 6, 11:27 AM ETIn trading on Thursday, shares of NRG Energy Inc (NYSE:NRG) entered into oversold territory, changing hands as low as $33.995 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 NRG Energy Inc, 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 53.4, the RSI of WTI Crude Oil is at 57.2, the RSI of Henry Hub Natural Gas is presently 67.3, and the 3-2-1 Crack Spread RSI is 65.8. A bullish investor could look at NRG'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), NRG's low point in its 52 week range is $28.22 per share, with $44.075 as the 52 week high point — that compares with a last trade of $34.11. NRG Energy Inc shares are currently trading off about 2.4% on the day.
The NRG RSI information above was sourced from TechnicalAnalysisChannel.com Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
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