Within the tumultuous energy sector lies an opportunity to unearth undervalued gems – stocks that have been deemed oversold, presenting a unique chance to invest in companies with growth potential.
One indicator, the Relative Strength Index (RSI), is a useful tool that compares a stock’s strength on days of price upswings to its strength on down days. When the RSI dips below 30, it signals an oversold scenario, offering a promising entry point.
Below, we delve into three energy stocks that have recently shown significant oversold conditions, potentially paving the way for substantial gains.
A Glimpse at Gran Tierra Energy Inc (AMEX:GTE)
- Recently, Gran Tierra Energy announced the closure of an additional $150 million in senior secured amortizing notes due 2029. Despite this development, the company’s stock plummeted by approximately 31% over the last month, hitting a 52-week low of $4.72.
- RSI Value: 27.50
- GTE Price Action: Shares of Gran Tierra Energy dipped by 6.4% to conclude at $5.90 on Wednesday.
- Market insights from Benzinga Pro flagged the latest news surrounding Gran Tierra Energy.
An Insight into Vivakor Inc (NASDAQ:VIVK)
- Vivakor Inc recently witnessed a stock decline of around 28% within the last month. With a 52-week low of $0.44, the company faces a challenging market environment.
- RSI Value: 27.07
- VIVK Price Action: Vivakor shares slid by 0.7% to settle at $1.43 on Wednesday.
- Benzinga Pro’s analytical tools highlighted the downward trend in Vivakor stock.
Unraveling Crown LNG Holdings Ltd (NASDAQ:CGBS)
- Crown LNG Holdings recently received a notification from Nasdaq regarding the failure to meet minimum bid requirements, leading to a 45% plummet in share value over the past month. With a 52-week low of $0.26, the company faces significant challenges in the current market.
- RSI Value: 22.60
- CGBS Price Action: Shares of Crown LNG Holdings witnessed a 10.6% drop, closing at $0.26 on Wednesday.
- Benzinga Pro’s signals hinted at a possible breakout in Crown LNG Holdings shares.
Exploring the potential of these energy stocks unveils a realm of opportunity for investors seeking lucrative returns amid turbulent market conditions.