Keep an eye on oversold shares of Air Products & Chemicals (APD).
After gapping lower on earnings, the stock has become technically oversold. For one, APD is now technically oversold on relative strength (RSI), MACD, and Williams’ %R. Two, the last time APD became this technically oversold, it bounced from about $270 to $304. Helping, analysts at Mizuho just raised their price target on APD to $330 from $322, with a buy.
We also have to consider the hydrogen market could get explosive. Analysts at Markets and Markets say the market could be worth $410.6. billion by 2030. Goldman Sachs says we could be looking at a $1 trillion opportunity by 2050.