Legendary investor Warren Buffett’s principle of “be fearful when others are greedy” is exemplified in the current trading situation for Dow Inc (Symbol: DOW). On Thursday, October 5, 2023, DOW shares hit an oversold level with a Relative Strength Index (RSI) reading of 28.0, trading as low as $31.3701 per share. This contrasts with an RSI of 55.0 for the S&P 500 ETF (SPY), indicating a significant market drop.
DOW’s 52-week trading range shows a low of $20.4019 and a high of $42.74, with the last trade price at $31.73. This current RSI suggests that the recent sell-off might be losing momentum, potentially presenting a buying opportunity for investors.
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