EROC Crosses Critical Technical Indicator
In the case of Eagle Rock Energy Partners LP, the RSI reading has hit 29.9 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 54.5, the RSI of WTI Crude Oil is at 60.3, and the RSI of Henry Hub Natural Gas is presently 43.4.
A bullish investor could look at EROC's 29.9 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), EROC's low point in its 52 week range is $8.23 per share, with $10.58 as the 52 week high point — that compares with a last trade of $8.85. Eagle Rock Energy Partners LP shares are currently trading down about 3.8% on the day.
According to the ETF Finder at ETF Channel, EROC makes up 3.87% of the Global X Junior MLP ETF