- Oops!Something went wrong.Please try again later.
Amplify Energy Corp. AMPY has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because AMPY is now in overbought territory with an RSI value of 75.14.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Yet AMPY’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions of Amplify Energy’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of AMPY’s prospects for the near term.
Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for Amplify Energy has also been on a downward trend over the same time period too, as the estimates have fallen 14.3% over the last two months.
If this wasn’t enough, Amplify Energy also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Bitcoin, Like the Internet Itself, Could Change Everything
Blockchain and cryptocurrency has sparked one of the most exciting discussion topics of a generation. Some call it the “Internet of Money” and predict it could change the way money works forever. If true, it could do to banks what Netflix did to Blockbuster and Amazon did to Sears. Experts agree we’re still in the early stages of this technology, and as it grows, it will create several investing opportunities.
Zacks’ has just revealed 3 companies that can help investors capitalize on the explosive profit potential of Bitcoin and the other cryptocurrencies with significantly less volatility than buying them directly.
See 3 crypto-related stocks now >>
Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report
Amplify Energy Corp. (AMPY) : Free Stock Analysis Report
To read this article on Zacks.com click here.
Zacks Investment Research