Can California Resources Corp(CRC), MGIC Investment Corp.(MTG) and FuelCell Energy Inc(FCEL) Move Into The Light?
New York, NY – GDP INSIDER – 03/17/2015.
This article discusses three companies: California Resources Corp(NYSE:CRC), MGIC Investment Corp.(NYSE:MTG) and FuelCell Energy Inc(NASDAQ:FCEL)
California Resources Corp(NYSE:CRC) dropped slightly yesterday closing down 1.03% or seven cents at $6.70 on higher than normal trading of 9.66 million shares, compared to its three month average trading volume of 7.90 million. The California-based independent oil and gas exploration and production company currently stands at a monthly performance of 5.51% and a quarterly performance of 14.73%. The decline started after WTI crude oil dropped 3.55% to $43.25 and Brent crude oil dropped 3.33% to $53.18 during midday trading yesterday. The stock has also been severely underperforming the S&P 500 for the last 52 week down 73.96% compared to an 11.96% increase in the index, making it a hold.
MGIC Investment Corp.(NYSE:MTG) soared to reach a new one year high of $9.83 yesterday before falling back to close up 3.07% or $0.29 at $9.74 on heavy trading of 12.77 million shares compared to its 30-day average trading volume of 4.42 million. The US-based private mortgage insurer has been outperforming the S&P 500 so far this year, up 4.51% which is up only 1.08% for the same period. In addition, the RSI and MFI are 68.78 and 76.08, respectively. Both of these indicate that the stock is not overvalued and the money is flowing in the right direction and still has room to improve.
FuelCell Energy Inc(NASDAQ:FCEL) kept on rallying yesterday with the stock rising another 3.23% or four cents to close at $1.28 on slightly higher than average trading of 5.71 million shares, compared to its three month average trading volume of 4 million. The US-based integrated fuel cell company has a beta of 2.68, which indicates that the stock is 168% more volatile than the market. In addition, the RSI and MFI are 48.22 and 56.44, respectively. Both of these indicate that the bullish move could continue, and the technical are not indicating a near term reversal.
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