Comstock Resources (CRK) Shares Enter Oversold Territory
In the case of Comstock Resources, Inc., the RSI reading has hit 29.8 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 44.6, the RSI of WTI Crude Oil is at 58.1, and the RSI of Henry Hub Natural Gas is presently 50.7.
A bullish investor could look at CRK's 29.8 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), CRK's low point in its 52 week range is $12.83 per share, with $21.16 as the 52 week high point — that compares with a last trade of $14.89. Comstock Resources, Inc. shares are currently trading down about 3.8% on the day.
According to the ETF Finder at ETF Channel, CRK makes up 2.65% of the S&P SmallCap Energy Portfolio ETF