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|Goodrich Petroleum Corp. Breaks Above 200-Day Moving Average - Bullish for GDP
Friday, February 7, 4:02 PM ET, by Market News Video Staff
In trading on Friday, shares of Goodrich Petroleum Corp. (GDP) crossed above their 200 day ...
WPX Energy, Inc. Stock Getting Very Oversold
Tuesday, February 11, 11:28 AM ET, by Market News Video Staff
In trading on Tuesday, shares of WPX Energy, Inc. (WPX) entered into oversold territory, changing ...
KOS Makes Bullish Cross Above Critical Moving Average
Tuesday, February 11, 4:21 PM ET, by Market News Video Staff
In trading on Tuesday, shares of Kosmos Energy Ltd (KOS) crossed above their 200 day ...
XOP, GPRE, PVA, MHR: ETF Inflow Alert
Wednesday, February 12, 10:50 AM ET, by Market News Video Staff
Symbols mentioned in this story: XOP, GPRE, PVA, MHR Exchange traded funds (ETFs) trade just ...
Use Options For a Chance To Buy GPOR at a 36% Discount
Wednesday, February 12, 11:49 AM ET, by Market News Video Staff
Looking back to 97 days ago, Gulfport Energy Corp. (GPOR) priced a 6,500,000 share secondary ...
GDP Stock Sees Many Buyers
By Energy Stock Channel Staff, Tuesday, January 10, 3:47 PM ET
In trading on Tuesday, shares of Goodrich Petroleum Corp. (NYSE:GDP) entered into overbought territory, changing hands as high as $17.31 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 Goodrich Petroleum Corp. , the RSI reading has hit 70.0 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 57.3, the RSI of WTI Crude Oil is at 60.1, and the RSI of Henry Hub Natural Gas is presently 38.2.
Investors could look at GDP's 70.0 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), GDP's low point in its 52 week range is $9.91 per share, with $23.80 as the 52 week high point — that compares with a last trade of $17.20. Goodrich Petroleum Corp. shares are currently trading up about 3.2% on the day.
According to the ETF Finder at ETF Channel, GDP makes up 1.50% of the SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) which is trading up by about 1.6% on the day Tuesday.
See what other ETFs contain GDP »
See what other stocks are held by XOP »
GDP operates in the Oil & Gas Exploration & Production sector, among companies like Cenovus Energy Inc. (NYSE:CVE) which is up about 1.7% today, and Devon Energy Corp. (NYSE:DVN) trading up by about 0.1%. Below is a three month price history chart comparing the stock performance of GDP, versus CVE and DVN.
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