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On Wednesday, shares of Wingstop Inc (WING) fell to an oversold level with a Relative Strength Index (RSI) reading of 29.7, trading as low as $250 per share. This contrasts sharply with the S&P 500 ETF (SPY) which has an RSI of 63.7. A low RSI indicates potential buying opportunities as the stock may have been oversold.
Wingstop’s stock has a 52-week low of $204 and a high of $427.94, with its last trade reported at $253.07. The current market dynamics have led to an intense selling environment, prompting interest from bullish investors looking for entry points.
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