In buying and selling on Wednesday, shares of SJW Group (Image: SJW) entered into oversold territory, altering fingers as little as $52.84 per share. We outline oversold territory utilizing the Relative Power Index, or RSI, which is a technical evaluation indicator used to measure momentum on a scale of zero to 100. A inventory is taken into account to be oversold if the RSI studying falls beneath 30.
Within the case of SJW Group, the RSI studying has hit 29.95 — by comparability, the universe of vitality shares coated by Energy Stock Channel at the moment has a median RSI of fifty.2, the RSI of WTI Crude Oil is at 52.1, the RSI of Henry Hub Natural Gas is presently 52.2, and the 3-2-1 Crack Spread RSI is 74.4.
A bullish investor may have a look at SJW’s 29.95 studying as an indication that the latest heavy promoting is within the means of exhausting itself, and start to search for entry level alternatives on the purchase facet.
a chart of 1 12 months efficiency (beneath), SJW’s low level in its 52 week vary is $52.84 per share, with $56.98 because the 52 week excessive level — that compares with a final commerce of $52.91. SJW Group shares are at the moment buying and selling off about 2.3% on the day.
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The views and opinions expressed herein are the views and opinions of the writer and don’t essentially replicate these of Nasdaq, Inc.
