Oversold Stocks To Watch: Linn Energy, LLC (NASDAQ:LINE), MPLX LP (NYSE:MPLX), Crescent Point Energy Corporation (NYSE:CPG)

The following stocks (NASDAQ:LINE, NYSE:MPLX and NYSE:CPG) 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’.

Linn Energy, LLC (NASDAQ:LINE)(Trend analysis) relative strength index stands at 25.35. Linn Energy, LLC (NASDAQ:LINE) stock is currently trading 74.69% below its 52-week-high, 5.78% above its 52-week-low. The 1-year stock price history is in the range of $7.61 – $31.8. Linn Energy, LLC (LINE) has a price to book ratio of 0.63 versus Basic Materials sector average of 3. Linn Energy, LLC is currently valued at $2.71 billion. The stock has a 50-day moving average of $9.94 and a 200-day moving average of $11.35.

There are currently fifteen analysts that cover Linn Energy, LLC stock. Of those fifteen, three have a Buy rating, ten have a Hold rating and two have a Sell rating. On a consensus basis this yields to a Hold rating. The consensus target price stands at $11.37.

The stock closed last trading session at $8.05, up by 4.14%.

MPLX LP (NYSE:MPLX)(Trend analysis) relative strength index is at the level of 28.6. The company’s shares were traded at $61.02, up by 3.37%, with a volume of 4,275,637 shares against an average volume for the last 3 months of 166,192. This represents a volume multiple of 25.73.

MPLX LP (MPLX) current short interest stands at 1.03 million shares. It has remained stable 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 0.79 million shares, the number of days required to cover the short positions stand at 1.3 days.

A recent stock analyst activity consisted of Scotia Howard Well downgrading their Outperform rating to Sector Perform on July 14.

Crescent Point Energy Corporation (NYSE:CPG)(Trend analysis) relative strength index is evolving around the 29 level. The stock closed last trading session at $18.35, up by 2.57%, with a volume of 1,088,042 shares compared to an average volume for the last 3 months of 381,979. The year-to-date performance of the stock stands at -16.13%.

Crescent Point Energy Corporation (CPG) current short interest stands at 2.88 million shares. It has increased by 11% 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 0.68 million shares, the number of days required to cover the short positions stand at 4.3 days.

Oversold Stocks To Watch: Linn Energy, LLC (NASDAQ:LINE), MPLX LP (NYSE:MPLX), Crescent Point Energy Corporation (NYSE:CPG) was last modified: July 15th, 2015 by Donna Crepeau