In trading on Tuesday, shares of Sunoco, Inc. (SUN) entered into overbought territory, changing hands as high as $41.14 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.
Investors could look at SUN's 70.9 reading as a sign that the recent heavy buying is peaking which could mean shares are due for a pullback.
Looking at a chart of one year performance (below), SUN's low point in its 52 week range is $27.36 per share, with $46.98 as the 52 week high point — that compares with a last trade of $41.08. Sunoco, Inc. shares are currently trading up about 0.9% on the day.
SUN operates in the Oil & Gas Refining & Marketing sector, among companies like HollyFrontier Corp. (NYSE:HFC) which is up about 1.6% today, and Braskem S A (NYSE:BAK) trading lower by about 0.1%. Below is a three month price history chart comparing the stock performance of SUN, versus HFC and BAK.
The ETF Channel Flexible Growth Investment Portfolio is designed to seek growth for investors —
anywhere and everywhere. The key to the program is our portfolio strategy allows us complete flexibility in terms of asset
allocation as there are no predetermined guidelines as to the level of stocks, bonds, cash, regions, countries, sectors,
commodities, or even asset classes in the portfolio! In short, this is a completely flexible portfolio designed to follow
the performance trail wherever it leads us.
This Article's Word Cloud:ChannelCrudeEnergyInvestmentNYSERefiningRelativeSunocoTuesdayaboutaboveallowsanalysisassetchartclassescomparisoncompletelyconsideredcouldcountriescurrentlydesignedenteredflexibilityfollowgrowthhighindicatoroverboughtperformancepointportfoliopullbackreadingregionssharesharesshortstockstocksterritorythattodaytradinguniverseusingweekwhichwith
Nothing in Energy Stock Channel is intended to be investment advice, nor does it represent the opinion of, counsel
from, or recommendations by BNK Invest Inc. or any of its affiliates, subsidiaries or partners.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. By visiting, using or viewing this site, you
agree to the following Full Disclaimer & Terms of Service. Video widget and energy stock videos powered by Market News Video. Quote data delayed at least 20
minutes; data powered by Ticker Technologies, and Mergent. Contact Energy Stock Channel; Meet Our Editorial Staff.