Western Services RSI
What is the RSI of Western Services?
The RSI of Western Energy Services Corp. is 56.32
What is the definition of RSI?
The relative strength index (RSI 14) is a momentum indicator that compares the magnitude of gains and losses over a specified time period to measure speed and change of price movements of a security.
14-day period
It is used to identify overbought or oversold conditions in the trading of an asset. It oscillates between 0 and 100 and a stock is considered overbought when the RSI is above 70 and oversold when below 30. The relative strength index (RSI) is typically used on a 14-day timeframe and is calculated according to the formula 100 - [ 100 / (1 + RS)] where RS is the ratio of average gain to average loss. In the calculation of average gain and loss for a certain period, taking the prior value plus the current value is a smoothing technique similar to that used in calculating an exponential moving average. This also means that RSI values become more accurate as the calculation period extends.
Sudden large price movements can create false buy or sell signals in the RSI. The RSI is often used in conjunction with trend lines, as trend line support or resistance often coincides with support or resistance levels in the RSI reading. Watching for divergence between price and the RSI indicator is another means of refining its application. Divergence occurs when a security makes a new high or low in price but the RSI does not make a corresponding new high or low value. Bearish divergence, when price makes a new high but the RSI does not is taken as a sell signal. Bullish divergence that is interpreted as a buy signal occurs when price makes a new low, but the RSI value does not.
RSI of companies in the Energy sector on TSX compared to Western Services
What does Western Services do?
Western Energy Services Corp. operates as an oilfield service company in Canada and the United States. It operates through Contract Drilling and Production Services segments. The Contract Drilling segment provides contract drilling services using drilling rigs and auxiliary equipment to contracts with exploration and production companies. The Production Services segment offers well servicing rig and related equipment services, as well as oilfield rental equipment services to other oilfield service companies. The company owns and operates 57 drilling rigs; and 66 service rigs. It serves crude oil and natural gas exploration and production companies. The company is headquartered in Calgary, Canada.
Companies with rsi similar to Western Services
- Rentokil Initial Plc has RSI of 56.31
- International Public Partnerships has RSI of 56.31
- Münchener Rückversicherungs-Gesellschaft AG has RSI of 56.31
- Sigma Lithium Resources has RSI of 56.31
- Brookfield Infrastructure Partners L.P has RSI of 56.31
- Anuh Pharma has RSI of 56.31
- Western Services has RSI of 56.32
- Ilika plc has RSI of 56.33
- Voltabox AG has RSI of 56.33
- IMAC Inc has RSI of 56.33
- Wayne Savings Bancshares has RSI of 56.33
- F45 Training has RSI of 56.33
- The Williams Companies has RSI of 56.34