Plunging Shares of PLDT Inc: A Deep Dive into Recent Market Trends
Legendary investor Warren Buffett advises caution during periods of excessive enthusiasm in the market and suggests seizing opportunities when fear prevails. A key tool to gauge market sentiment is the Relative Strength Index (RSI), a momentum indicator measured on a scale from 0 to 100. Typically, a stock is considered oversold when its RSI falls below 30.
PLDT Inc Hits Oversold Mark
On Monday, shares of PLDT Inc (Symbol: PHI) entered oversold territory with an RSI reading of 29.7, after trading as low as $24.37 per share. In contrast, the current RSI for the S&P 500 ETF (SPY) stands at 62.0. Some bullish investors might view PHI’s RSI of 29.7 as a signal that the recent significant selling may be tapering off, prompting them to seek buying opportunities.
Reviewing PLDT’s Performance Stats
The chart below illustrates PLDT’s performance over the past year. Its lowest point in the 52-week range was $21.39 per share, while its peak reached $30.39. As of the last trade, shares were valued at $24.57.
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Additional Resources:
- Top Ten Hedge Funds Holding FAS
- Institutional Holders of WIW
- Top Ten Hedge Funds Holding AVNU
The views and opinions expressed herein are those of the author and do not necessarily represent the views of Nasdaq, Inc.
