To determine whether a stock of interest is in overbought or oversold condition is made easier by looking at the RSI or Relative Strength. This indicator is a stock-picking tool; if the RSI falls below 30 then it is an indicator the stock may be becoming oversold and is therefore undervalued. When the RSI is over 70, it is overvalued or a candidate for pullback. Here are three stocks with beginning buy signals: Cabot Oil & Gas Corporation (NYSE:COG), Barrick Gold Corporation (USA) (NYSE:ABX), and Devon Energy Corp (NYSE:DVN).
Cabot Oil & Gas Corporation (NYSE:COG) has an RSI value of 14.55. Its return over the last full month was -5.1%, while the three-month investment was -15.96%. Looking back over the last 52 weeks, its last closing price was higher than the low over the 52 weeks with 7.37%, and it was under the 52-week high with -21.69%. It is -14.82% under the average pricing of the last 50 days and is -8.21% compared with the SMA 20.
Barrick Gold Corporation (USA) (NYSE:ABX) has an RSI of 12.37. Its stock is down -23.73% in a month through its last close. It is in the oversold arena. It shows a return back to investors of -34.05 over the span of the past three months. The price per share has dipped from its 52-week low with 0% and it is down from its 52-week high (-61.41%). The present share price is lower than the average pricing over the past 50 days by -34.3%. As well, it is -26.69% compared with the SMA 20.
As for Devon Energy Corp (NYSE:DVN), it has an RSI standing of 19.22. Its one-month return of -6.75% is computed, with a three-month return that is -16.64. For its 52-week analysis, the stock was up -0.41% from the low during that period, at time of its most recent close. The stock was lower than the 52-week high by -34.51%. It is -16.45% under the average price of the past 50 days.