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|MRD Makes Notable Cross Below Critical Moving Average
Monday, September 21, 4:43 PM ET, by Market News Video Staff
In trading on Monday, shares of Memorial Resource Development Corp (MRD) crossed below their 200 ...
SPDR S&P Oil & Gas Exploration & Production ETF -- Insider Buying Index Registering 19.9%
Wednesday, September 23, 9:48 AM ET, by Market News Video Staff
A look at the weighted underlying holdings of the SPDR S&P Oil & Gas Exploration ...
First Week of November 20th Options Trading For Northern Oil & Gas
Wednesday, September 23, 12:29 PM ET, by Market News Video Staff
Investors in Northern Oil & Gas Inc (NOG) saw new options become available this week, ...
Kosmos Energy Shares Enter Oversold Territory
Friday, September 25, 11:24 AM ET, by Market News Video Staff
In trading on Friday, shares of Kosmos Energy Ltd (KOS) entered into oversold territory, changing ...
Notable Two Hundred Day Moving Average Cross - CPE
Friday, September 25, 4:01 PM ET, by Market News Video Staff
In trading on Friday, shares of Callon Petroleum Co. (CPE) crossed below their 200 day ...
NOG Crosses Critical Technical Indicator
By Energy Stock Channel Staff, Wednesday, October 24, 11:40 AM ET
In trading on Wednesday, shares of Northern Oil & Gas Inc (AMEX:NOG) entered into oversold territory, changing hands as low as $15.15 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 Northern Oil & Gas Inc , the RSI reading has hit 29.2 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 45.4, the RSI of WTI Crude Oil is at 30.2, and the RSI of Henry Hub Natural Gas is presently 57.2.
A bullish investor could look at NOG's 29.2 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), NOG's low point in its 52 week range is $14.40 per share, with $28.00 as the 52 week high point — that compares with a last trade of $15.10. Northern Oil & Gas Inc shares are currently trading down about 2.1% on the day.
According to the ETF Finder at ETF Channel, NOG makes up 1.36% of the SPDR S&P Oil & Gas Exploration & Production ETF (AMEX:XOP) which is trading lower by about 0.7% on the day Wednesday.
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