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WLT Stock Crowded With Sellers

By Metals Channel Staff, Wednesday, December 14, 11:37 AM ET
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In trading on Wednesday, shares of Walter Energy, Inc. (NYSE:WLT) entered into oversold territory, changing hands as low as $59.15 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 Walter Energy, Inc., the RSI reading has hit 28.5 by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 37.6, the RSI of Spot Gold is at 26.5, and the RSI of Spot Silver is presently 29.3.

A bullish investor could look at WLT's 28.5 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), WLT's low point in its 52 week range is $53.41 per share, with $143.76 as the 52 week high point that compares with a last trade of $59.20. Walter Energy, Inc. shares are currently trading off about 2.7% on the day.

Walter Energy, Inc. 1 Year Performance Chart

According to the ETF Finder at ETF Channel, WLT makes up 3.90% of the Coal ETF (AMEX:KOL) which is trading lower by about 2.9% on the day Wednesday.

See what other ETFs contain WLT
See what other stocks are held by KOL

WLT operates in the Metals & Mining sector, among companies like Uranium Energy Corp (AMEX:UEC) which is down about 1.3% today, and James River Coal Co (NASDAQ:JRCC) trading lower by about 4.6%. Below is a three month price history chart comparing the stock performance of WLT, versus UEC and JRCC.

WLT,UEC,JRCC Relative Performance Chart


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