Investors Eye Tarsus Pharmaceuticals as Stock Hits Oversold Levels
Warren Buffett’s Wisdom: When to Act in the Market
Legendary investor Warren Buffett once said to be fearful when others are greedy, and to be greedy when others are fearful. One way to gauge the fear level surrounding a particular stock is through the Relative Strength Index (RSI), a technical analysis tool that measures momentum on a scale of zero to 100. A stock is generally viewed as oversold if its RSI reading drops below 30.
On Tuesday, shares of Tarsus Pharmaceuticals Inc (Symbol: TARS) entered oversold conditions, reaching an RSI of 28.9 after trading as low as $43.61 per share. In comparison, the current RSI for the S&P 500 ETF (SPY) stands at 39.1. Investors with a bullish outlook might interpret TARS’s RSI of 28.9 as a signal that heavy selling pressure is waning, signaling potential buying opportunities. Below is a performance chart detailing TARS shares over the past year:
Examining the chart, TARS’s 52-week low is $20.0818 per share, while the high is $57.14. The stock recently traded at $44.26.
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Also see:
- GNW Average Annual Return
- NLSN Price Target
- BAXS Insider Buying
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
