Warren Buffett’s Wisdom: Analyzing Atlas Energy Solutions’ Oversold Status
Legendary investor Warren Buffett often advises to be fearful when others are greedy, and to be greedy when others are apprehensive. A popular method to gauge market fear is the Relative Strength Index (RSI), a technical analysis indicator that measures momentum on a scale from zero to 100. Specifically, a stock is considered oversold if its RSI reading drops below 30.
In trading on Wednesday, Atlas Energy Solutions Inc (Symbol: AESI) experienced significant selling pressure, falling into the oversold territory with an RSI reading of 29.6, while trading as low as $11.90 per share. In contrast, the current RSI for the S&P 500 ETF (SPY) sits at 53.7. A bullish investor might interpret AESI’s 29.6 RSI as a signal that the substantial downward momentum may be slowing, presenting potential buying opportunities.
The chart below illustrates the one-year performance of AESI shares:
According to the chart, AESI’s lowest point over the past 52 weeks was $11.90 per share, while the 52-week high reached $26.86. The last recorded trade was $11.95.
Discover nine other oversold stocks worth monitoring »
Also see:
- Analyst Actions
- Institutional Holders of IBII
- Institutional Holders of NVX
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
