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Cameron International (CAM) Shares Enter Oversold Territory

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In trading on Monday, shares of Cameron International Corp (NYSE: CAM) entered into oversold territory, changing hands as low as $44.29 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 Cameron International Corp, the RSI reading has hit 28.2 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 39.9, the RSI of WTI Crude Oil is at 16.5, and the RSI of Henry Hub Natural Gas is presently 28.1.

Click here to find out which 9 other oversold energy stocks you need to know about, at EnergyStockChannel.com »

A bullish investor could look at CAM's 28.2 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), CAM's low point in its 52 week range is $44.29 per share, with $74.89 as the 52 week high point — that compares with a last trade of $44.79. Cameron International Corp shares are currently trading off about 3% on the day.

According to the ETF Finder at ETFChannel.com, CAM makes up 4.78% of the PowerShares Dynamic Oil & Gas Services Portfolio ETF (AMEX: PXJ) which is trading lower by about 3.9% on the day Monday.


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