Warren Buffett advises investors to be cautious in times of greed and opportunistic during fear. On Thursday, September 28, 2023, Alibaba Group Holding Ltd (Symbol: BABA) was reported to have an oversold Relative Strength Index (RSI) of 29.8, indicating heavy selling pressure. The stock traded as low as $109.66 per share, compared to the S&P 500 ETF (SPY) which has an RSI of 51.5.
Alibaba’s stock has a 52-week range with a low of $103.71 and a high of $192.67, closing at $112.69. This RSI reading suggests that potential investors may see the recent downturn as an opportunity to buy.
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