The following stocks (NYSE:BHI, NYSE:SE and NYSE:FCX) are oversold as their Relative Strength index (RSI) is below 30. Indeed, the RSI is one of the most popular technical indicators and is computed on the basis of the speed and direction of a stock’s price movement, generally in a 14-day window. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days. This implies that the RSI can also be used to identify the overbought/oversold levels. Most technical analysts consider the RSI value above 70 as ‘overbought zone’ and below 30 as ‘oversold zone’.
Baker Hughes Inc (NYSE:BHI)(Trend analysis) relative strength index stands at 29.32. Baker Hughes Inc (NYSE:BHI) stock is currently trading 21.09% below its 52-week-high, 24.82% above its 52-week-low. The 1-year stock price history is in the range of $47.51 – $75.15. Baker Hughes Inc (BHI) has a price to earnings ratio of 32.28 versus Basic Materials sector average of 38.56. Baker Hughes Inc is currently valued at $25.78 billion. The stock has a 50-day moving average of $63.73 and a 200-day moving average of $62.28.
There are currently thirty-three analysts that cover Baker Hughes Inc stock. Of those thirty-three, twenty-two have a Buy rating, ten have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $77.48.
The stock closed last trading session at $59.3, down by -1.74%.
Spectra Energy Corp (NYSE:SE)(Trend analysis) relative strength index is at the level of 27.09. The company’s shares were traded at $31.1, down by -2.6%, with a volume of 5,459,214 shares against an average volume for the last 3 months of 3,541,610. This represents a volume multiple of 1.54.
Spectra Energy Corp (SE) current short interest stands at 25.18 million shares. It has decreased by 3% from the same period of last month. Around 4% of the company’s shares, which are float, are short sold. With a 10-days average volume of 4.02 million shares, the number of days required to cover the short positions stand at 6.3 days.
A recent stock analyst activity consisted of Piper Jaffray reiterating their Overweight stance on June 8. Piper Jaffray increased their price target on SE from $38 to $41.
Freeport-McMoRan Inc (NYSE:FCX)(Trend analysis) relative strength index is evolving around the 30 level. The stock closed last trading session at $17.84, down by -3.04%, with a volume of 18,435,479 shares compared to an average volume for the last 3 months of 16,532,800. The year-to-date performance of the stock stands at -10.24%.
Freeport-McMoRan Inc (FCX) current short interest stands at 45.34 million shares. It has increased by 7% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 17.09 million shares, the number of days required to cover the short positions stand at 2.7 days.