Legendary investor Warren Buffett’s adage to be fearful when others are greedy is highlighted in the context of Duke Energy Corporation’s shares, which have recently entered oversold territory. On Friday, October 6, 2023, Duke Energy Corporation’s 5.625% Junior Subordinated (Ticker: DUKB) recorded a Relative Strength Index (RSI) of 29.9, indicating oversold conditions after its stock price fell to a low of $21.90 per share. In contrast, the S&P 500 ETF (SPY) currently has an RSI of 56.3.
DUKB’s 52-week range shows a low of $21.80 and a high of $25.30, with its last trade reported at $21.94. Traders may view the RSI reading as a potential signal for buy opportunities as heavy selling appears to be exhausting.
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