Top 5 Energy Stocks That Could Plunge This Month – Civitas Resources…

Top 5 Energy Stocks That Could Plunge This Month – Civitas Resources…

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The most overbought stocks in the energy sector offer an opportunity to short on these overvalued companies.

The RSI is a momentum indicator that compares a stock’s strength on rising days to its strength on falling days. Compared to a stock’s price action, it can give traders a better sense of how a stock might perform in the short term. An asset is typically considered overbought when the The RSI is above 70.

Here is the latest list of the major overbought players in this sector.

Teekay Tankers Ltd. TNK

  • Teekay Tankers reported better than expected Q4 results. The company’s stock has a 52-week high of $43.03 .
  • RSI value: 83.17
  • TNK Price Promotion: Teekay Tankers shares rose 13.3% to close at $42.32 on Thursday.

Civitas Resources Inc CIVI

  • Civitas Resources reported mixed fourth quarter financial results. The companys The stock has a 52-week high from $84.76.
  • RSI value: 71.12
  • CIVI Price Promotion: Civitas Resources shares were up 13.1% to close at $70.17 on Thursday.

International Seaways Inc INSW

  • International Seaways reported Q3 GAAP earnings per share in November of $2.28. The company has one 52 week high from $48.12.
  • RSI value: 72.00
  • INSW Price Action: Shares of International Seaways gained 4.9% on Thursday to close at $45.71, up 2.2% in after-hours trading.

Archrock Inc AROC

  • Archrock posted better than expected sale for its fourth quarter. The company’s 52-week high is $10.44.
  • RSI value: 73.08
  • AROC Price Promotion: Archrock shares gained 6.4% to close at $10.41 on Thursday.

Nordic American Tanker Ltd NAT

  • Nordic American Tankers released quarterly in-line earnings in November. The company has a 52-week high from $3.94.
  • RSI value: 77.77
  • NAT Price Action: Shares of Nordic American Tanker gained 5.8% to trade at $3.84 on Thursday.

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