COG Crosses Critical Technical Indicator

Mar 14 2014, 11:04am CDT | by

In trading on Friday, shares of Cabot Oil & Gas Corp. (NYSE: COG) entered into oversold territory, changing hands as low as $34.29 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Cabot Oil & Gas Corp., the RSI reading has hit 29.5 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 52.3, the RSI of WTI Crude Oil is at 44.4, and the RSI of Henry Hub Natural Gas is presently 41.4.

Click here to find out which 9 other oversold energy stocks you need to know about, at EnergyStockChannel.com »

A bullish investor could look at COG’s 29.5 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), COG’s low point in its 52 week range is $31.63 per share, with $41.78 as the 52 week high point — that compares with a last trade of $34.36. Cabot Oil & Gas Corp. shares are currently trading off about 0.8% on the day.


Special Offer: Establish a secure stream of income during your retirement years by following the Retiree Income Portfolio with this free 30 day trial

Source: Forbes Business

/>/>
 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

First Italian female astronaut ready for spaceflight
Rome, Nov 24 (IANS) History will be made Monday with the first ever Italian female astronaut set to go into space for a mission on board the International Space Station (ISS).
 
 
Mummy wearing jewellery unearthed in Egypt
London, Nov 23 (IANS) Spanish archaeologists have discovered about 4,000 years old female mummy wearing rare jewellery in Egypt.
 
 
Exercise and fasting could boost brain's functions
Washington, Nov 23 (IANS) Exercise along with occasional fasting is good for boosting the brain's neurons, shows a new research.
 
 
One infant dies in Pakistan hospital
Islamabad, Nov 23 (IANS) One more infant died due to lack of oxygen in an incubator and negligence of the hospital administration in Pakistan, bringing the number of such deaths to 19 in the past five days.
 
 
 

Latest from the Network

It?s direction over acting for Jolie
Los Angeles, Nov 24 (IANS) Actress Angelina Jolie says she is now looking to focus on her directing career. "I've never been comfortable as an actor -- I've never loved being in front of the camera. I didn't ever...
Read more on Celebrity Balla
 
Al Qaeda-linked fighters target two Shia towns in Syria
Damascus, Nov 24 (IANS) The Al Qaeda-linked Nusra Front and like-minded groups attacked two pro-government and predominantly Shia towns, in Syria's Aleppo province. The attack on the towns of Nubul and Zahra Sunday...
Read more on Politics Balla
 
Pattinson gets naughty with FKA Twigs in public
Los Angeles, Nov 24 (IANS) Actor Robert Pattinson seemed to be in a playful mood when he grabbed his girlfriend FKA Twigs's derriere while strolling here recently. The duo had stepped out together Friday afternoon for...
Read more on Celebrity Balla
 
Focus shifts to 'political agreement' over Iranian nuclear issue
Tehran, Nov 24 (IANS) Iran and six world powers would now look to negotiate a "political agreement" as a comprehensive deal by the Nov 24 deadline would be "impossible", Iranian officials said. "We haven't been...
Read more on Politics Balla
 
Political leader shot dead in Pakistan
Karachi, Nov 24 (IANS) A leader of the Awami National Party (ANP), Ziauddin was gunned down Sunday by unknown assailants in Orangi Town in the Pakistani city of Karachi, media reported. According to police, the leader...
Read more on Politics Balla
 
Israeli cabinet pushes to make country 'Jewish state' by law
Jerusalem, Nov 24 (IANS) The Israeli cabinet approved a bill Sunday, which enshrines in law that Israel is the national homeland of the Jewish people and that this right is unique to them. Fifteen ministers voted in...
Read more on Politics Balla
 
When Lily Allen's sex life 'lacked magic'
Los Angeles, Nov 24 (IANS) Singer Lily Allen, who says she didn't enjoy a great sex life until she was in her mid-20s, believes sex needs to be reprented as an "emotive experience" in popular media. She says the media...
Read more on Celebrity Balla
 
Bangladesh beats Zimbabwe in second ODI
Dhaka, Nov 24 (IANS) Bangladesh beat Zimbabwe by 68 runs in the second one day international (ODI) at the Zahur Ahmed Chowdhury stadium in Chittagong Sunday, to go 2-0 up in the five-match cricket series. Batting...
Read more on Sport Balla
 
Stand up for your rights, Imran Khan tells Pakistanis
Islamabad, Nov 24 (IANS) Pakistan Tehreek-i-Insaf (PTI) chief Imran Khan said Sunday that the people of Pakistan must stand up for their rights, when the party holds a rally Nov 30 in Islamabad. Addressing a public...
Read more on Politics Balla
 
Ryan Reynolds' 'scary' father
Ryan Reynolds thought his father was ''scary''. 'The Proposal' star - who is expecting his first child with his wife, Blake Lively - has admitted that his dad worked incredibly ''tirelessly'' to provide for their family...
Read more on Celebrity Balla