Top 3 Energy Stocks That May Explode In October

The most oversold stocks in the energy sector presents an opportunity to buy into undervalued companies. The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered oversold when the RSI is below 30, according to Benzinga Pro. Here’s the latest list of major oversold players in this sector, having an RSI near or below 30. NexGen Energy Ltd (NYSE:NXE) On Sept. 21, JP Morgan analyst Bill Peterson initiated coverage on NexGen Energy with an Overweight rating and announced a price target of $14. The company’s stock fell around 11% over the past month and has a 52-week low of $7.33. RSI Value: 28.7 NXE Price Action: Shares of NexGen Energy fell 2.2% to close at $8.37 on Friday. Edge Stock Ratings: 12.49 Momentum score. Uranium Energy Corp. (NYSE:UEC) On Oct. 13, Uranium Energy appointed the Honorable Tom D’Agostino, Admiral James F. Caldwell (USN, Ret.), Admiral William K. Lescher (USN, Ret.) and the Honorable Neile Miller to UEC’s National Security Advisory Council. The company’s stock fell around 22% over the past month and has a 52-week low of $7.27. RSI Value: 25.3 UEC Price Action: Shares of Uranium Energy fell 3.2% to close at $7.91 on Friday. Benzinga Pro’s charting tool helped identify the trend in UEC stock. Centrus Energy Corp (NYSE:LEU) On Oct. 8, Guggenheim analyst Joseph Osha initiated coverage on Centrus Energy with a Buy rating and announced a price target of $167. The company’s stock fell around 18% over the past five days and has a 52-week low of $112.61. RSI Value: 26.5 LEU Price Action: Shares of Centrus Energy dipped 9.5% to close at $114.94 on Friday. Benzinga Pro’s signals feature notified of a potential breakout in LEU shares. Learn more about BZ Edge Rankings—click to see scores for other stocks in the sector and see how they compare. Photo via Shutterstock