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| Huaneng Power International, Inc. (HNP) Shares Enter Overbought TerritoryBy Energy Stock Channel Staff, Tuesday, November 8, 11:32 AM ET
In trading on Tuesday, shares of Huaneng Power International, Inc. (NYSE:HNP) entered into overbought territory, changing hands as high as $20.45 per share. We define overbought 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 overbought if the RSI reading rises above 70. In the case of Huaneng Power International, Inc., the RSI reading has hit 72.3 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 57.2, the RSI of WTI Crude Oil is at 68.7, and the RSI of Henry Hub Natural Gas is presently 48.4. A bearish investor could look at HNP's 72.3 reading as a sign that the recent heavy buying is in the process of exhausting itself, and shares are due for a pullback. Looking at a chart of one year performance (below), HNP's low point in its 52 week range is $15.45 per share, with $23.94 as the 52 week high point — that compares with a last trade of $20.21. Huaneng Power International, Inc. shares are currently trading up about 7.9% on the day.
According to the ETF Finder at ETF Channel, HNP makes up 4.37% of the Golden Dragon Halter USX China Portfolio ETF (AMEX:PGJ) which is trading lower by about 0.3% on the day Tuesday. See what other ETFs contain HNP » HNP operates in the Electric Utilities sector, among companies like American DG Energy Inc (AMEX:ADGE) which is trading flat today, and Active Power Inc (NASDAQ:ACPW) trading lower by about 1.1%. Below is a three month price history chart comparing the stock performance of HNP, versus ADGE and ACPW.
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