Helmerich & Payne Stock Getting Very Oversold

In trading on Friday, shares of Helmerich & Payne, Inc. (Symbol: HP) entered into oversold territory, changing hands as low as $34.75 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 Helmerich & Payne, Inc., 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 44.9, the RSI of WTI Crude Oil is at 38.5, the RSI of Henry Hub Natural Gas is presently 66.9, and the 3-2-1 Crack Spread RSI is 40.5. A bullish investor could look at HP's 29.