Oversold Stocks To Watch: Barrick Gold Corporation (NYSE:ABX), Noble Corp plc (NYSE:NE), Carrizo Oil & Gas Inc (NASDAQ:CRZO)

The following stocks (NYSE:ABX, NYSE:NE and NASDAQ:CRZO) 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’.

Barrick Gold Corporation (NYSE:ABX)(Trend analysis) relative strength index stands at 15.88. Barrick Gold Corporation (NYSE:ABX) stock is currently trading 54.6% below its 52-week-high, 2.09% above its 52-week-low. The 1-year stock price history is in the range of $8.61 – $19.36. Barrick Gold Corporation (ABX) has a price to book ratio of 1.06 versus Basic Materials sector average of 3. Barrick Gold Corporation is currently valued at $10.24 billion. The stock has a 50-day moving average of $10.93 and a 200-day moving average of $11.82.

There are currently twenty-seven analysts that cover Barrick Gold Corporation. Of those twenty-seven, seven have a Buy rating, sixteen have a Hold rating and four have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $16.94.

The stock closed last trading session at $8.79, down by -4.87%.

Noble Corp plc (NYSE:NE)(Trend analysis) relative strength index is at the level of 29.95. The company’s shares were traded at $13.36, down by -4.84%, with a volume of 41,880,047 shares against an average volume for the last 3 months of 9,069,560. This represents a volume multiple of 4.62.

Noble Corp plc (NE) current short interest stands at 24.62 million shares. It has increased by 5% from the same period of last month. Around 11% of the company’s shares, which are float, are short sold. With a 10-days average volume of 13.65 million shares, the number of days required to cover the short positions stand at 1.9 days.

A recent stock analyst activity consisted of Jefferies reiterating their Hold stance on June 26. Jefferies decreased price target from $17 to $16.

Carrizo Oil & Gas Inc (NASDAQ:CRZO)(Trend analysis) relative strength index is evolving around the 26 level. The stock closed last trading session at $39.47, down by -4.52%, with a volume of 1,442,014 shares compared to an average volume for the last 3 months of 925,608. The year-to-date performance of the stock stands at -15.69%.

Carrizo Oil & Gas Inc (CRZO) current short interest stands at 3.98 million shares. It has increased by 5% from the same period of last month. Around 9% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.11 million shares, the number of days required to cover the short positions stand at 3.6 days.

Oversold Stocks To Watch: Barrick Gold Corporation (NYSE:ABX), Noble Corp plc (NYSE:NE), Carrizo Oil & Gas Inc (NASDAQ:CRZO) was last modified: July 20th, 2015 by Donna Crepeau