Top 2 Energy Stocks That Are Preparing To Pump This Month

Author: Lisa Levin | August 16, 2023 07:18am

The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies.

The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30.

Here’s the latest list of major oversold players in this sector, having an RSI near or below 30.

Imperial Petroleum Inc. (NASDAQ:IMPP)

• Imperial Petroleum announced the pricing of approximately $17 million of its units in a registered direct offering at a price of $2 per unit. The company’s stock has a 52-week low of $1.36 .
• RSI Value: 24.43
• IMPP Price Action: Shares of Imperial Petroleum fell 7.9% to close at $1.40 on Tuesday.

Trio Petroleum Corp. (NYSE:TPET)

• Trio Petroleum Corp said that the first test interval of its HV-1 Discovery well has tested at rates up to 125 BOPD along with associated natural Gas. It has a 52-week low of $0.5110.
• RSI Value: 24.81
• TPET Price Action: Shares of Trio Petroleum fell 5.1% to close at $0.5230 on Tuesday.

 

Read More: Check Out 3 Materials Stocks With Over 4% Dividend Yields From Wall Street's Most Accurate Analysts

Posted In: IMPP TPET