For Investors Only -- Denbury Resources (DNR) Getting Very Oversold -- Forbes -- Bakken, North Dakota, USA

Link here.

In trading on Monday, shares of Denbury Resources, Inc., entered into oversold territory, changing hands as low as $10.84 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 Denbury Resources, Inc. , the RSI reading has hit 29.6 — by comparison, the universe of energy stocks covered by Energy Stock Channel currently has an average RSI of 35.8, the RSI of WTI Crude Oil is at 38.7, and the RSI of Henry Hub Natural Gas is presently 35.2.

I don't follow Forbes' RSI, but I have followed DNR and it is very, very oversold, but so are many, many others in the Bakken.