Legendary investor Warren Buffett advises a contrarian approach to investing, suggesting to be fearful when others are greedy and vice versa. On Tuesday, Annexon Inc (Ticker: ANNX) shares fell into oversold territory, achieving a Relative Strength Index (RSI) of 28.5 after trading as low as $4.46 per share. In contrast, the S&P 500 ETF (SPY) had an RSI of 57.5, indicating stronger market momentum.
ANNX’s 52-week performance shows a low of $1.85 and a high of $7.18, with the last trade recorded at $4.52 per share. This RSI reading may present bullish investors with an opportunity as heavy selling pressure appears to be waning.
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