TransAlta (TAC) Shares Enter Oversold Territory
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AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Markets TAC TransAlta (TAC) Shares Enter Oversold Territory March 14, 2022 — 03:54 pm EDT Written by BNK Invest for BNK Invest-> In trading on Monday, shares of TransAlta Corp (Symbol: TAC) entered into oversold territory, changing hands as low as $9.52 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 TransAlta Corp, the RSI reading has hit 26.7 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 51.4, the RSI of WTI Crude Oil is at 50.4, the RSI of Henry Hub Natural Gas is presently 53.1, and the 3-2-1 Crack Spread RSI is 52.6. A bullish investor could look at TAC's 26.7 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), TAC's low point in its 52 week range is $8.62 per share, with $12.13 as the 52 week high point — that compares with a last trade of $9.54. TransAlta Corp shares are currently trading off about 2.9% on the day. Click here to find out which 9 other oversold energy stocks you need to know about » The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Tags MarketsStocksEnergy BNK Invest BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally.
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