Oversold Stocks To Watch: Canadian Natural Resources Ltd (NYSE:CNQ), Frank’s International NV (NYSE:FI), Noble Energy Inc (NYSE:NBL)

The following stocks (NYSE:CNQ, NYSE:FI and NYSE:NBL) 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’.

Canadian Natural Resources Ltd (NYSE:CNQ)(Trend analysis) relative strength index stands at 27.09. Canadian Natural Resources Ltd (NYSE:CNQ) stock is currently trading 45.06% below its 52-week-high, 1.08% above its 52-week-low. The 1-year stock price history is in the range of $24.96 – $45.92. Canadian Natural Resources Ltd (CNQ) has a price to earnings ratio of 11.53 versus Basic Materials sector average of 39.76. Canadian Natural Resources Ltd is currently valued at $27.61 billion. The stock has a 50-day moving average of $28.11 and a 200-day moving average of $30.01.

There are currently twenty-five analysts that cover Canadian Natural Resources Ltd stock. Of those twenty-five, twenty have a Buy rating, four 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 $43.91.

The stock closed last trading session at $25.23, down by -0.71%.

Frank’s International NV (NYSE:FI)(Trend analysis) relative strength index is at the level of 29.66. The company’s shares were traded at $17.05, down by -0.41%, with a volume of 1,174,943 shares against an average volume for the last 3 months of 577,557. This represents a volume multiple of 2.03.

Frank’s International NV (FI) current short interest stands at 1.44 million shares. It has increased by 15% 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 0.85 million shares, the number of days required to cover the short positions stand at 1.8 days.

A recent stock analyst activity consisted of Barclays who initiated their coverage on the stock with Equal-weight rating on June 11. Barclays fixed their price target at $19.

Noble Energy Inc (NYSE:NBL)(Trend analysis) relative strength index is evolving around the 28 level. The stock closed last trading session at $38.34, down by -0.1%, with a volume of 5,592,599 shares compared to an average volume for the last 3 months of 4,604,730. The year-to-date performance of the stock stands at 4.14%.

Noble Energy Inc (NBL) current short interest stands at 16.19 million shares. It has increased by 52% 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 4.62 million shares, the number of days required to cover the short positions stand at 3.6 days.

Oversold Stocks To Watch: Canadian Natural Resources Ltd (NYSE:CNQ), Frank’s International NV (NYSE:FI), Noble Energy Inc (NYSE:NBL) was last modified: July 20th, 2015 by Pat Mayfield