These oversold energy stocks could be ready to rebound

These oversold energy stocks could be ready to rebound
These oversold energy stocks could be ready to rebound

From that statistical standpoint, the most oversold Energy stocks are Range Resources, Anadarko Petroleum, Newfield Exploration and Chesapeake Energy.

Kensho points out the most statistically oversold stocks — which also are most likely to see near-term gains.

Take Range Resources, which as of Friday was 3.27 standard deviations below its mean.

To put it into context, 99.7 percent of values along a normally distributed set falls within 3 standard deviations, so a number greater than 3 puts Range Resources in extremely rare trading territory.

Further, Kensho notes that the past seven times Range Resources has had a drop of this magnitude, the next move is at least half a standard deviation higher.

Disclosure: CNBC parent NBC Universal is a minority investor in Kensho

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