Oversold Stocks To Watch: ConocoPhillips (NYSE:COP), Rio Tinto PLC (ADR) (NYSE:RIO), Statoil ASA (ADR) (NYSE:STO)

The following stocks (NYSE:COP, NYSE:RIO and NYSE:STO) 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’.

ConocoPhillips (NYSE:COP)(Trend analysis) relative strength index stands at 26. ConocoPhillips (NYSE:COP) stock is currently trading 32.19% below its 52-week-high, 0.58% above its 52-week-low. The 1-year stock price history is in the range of $58.72 – $87.09. ConocoPhillips (COP) has a price to earnings ratio of 14.68 versus Basic Materials sector average of 38.56. ConocoPhillips is currently valued at $72.82 billion. The stock has a 50-day moving average of $63.42 and a 200-day moving average of $65.16.

There are currently twenty-five analysts that cover ConocoPhillips stock. Of those twenty-five, fourteen 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 $74.45.

The stock closed last trading session at $59.06, down by -2.41%.

Rio Tinto PLC (ADR) (NYSE:RIO)(Trend analysis) relative strength index is at the level of 28.21. The company’s shares were traded at $40.14, down by -2.19%, with a volume of 2,681,279 shares against an average volume for the last 3 months of 2,421,520. This represents a volume multiple of 1.11.

Rio Tinto PLC (ADR) (RIO) current short interest stands at 16.14 million shares. It has decreased by 4% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 2.11 million shares, the number of days required to cover the short positions stand at 7.7 days.

A recent stock analyst activity consisted of Redburn downgrading their Buy rating to Sell on June 9.

Statoil ASA (ADR) (NYSE:STO)(Trend analysis) relative strength index is evolving around the 29 level. The stock closed last trading session at $16.74, down by -4.67%, with a volume of 2,674,525 shares compared to an average volume for the last 3 months of 2,202,530. The year-to-date performance of the stock stands at -8.63%.

Statoil ASA (ADR) (STO) current short interest stands at 4.27 million shares. It has increased by 1% from the same period of last month. Around 1% of the company’s shares, which are float, are short sold. With a 10-days average volume of 1.79 million shares, the number of days required to cover the short positions stand at 2.4 days.

Oversold Stocks To Watch: ConocoPhillips (NYSE:COP), Rio Tinto PLC (ADR) (NYSE:RIO), Statoil ASA (ADR) (NYSE:STO) was last modified: July 7th, 2015 by Donna Crepeau