Legendary investor Warren Buffett advocates a strategy of being fearful when others are greedy and vice versa. A key indicator for measuring market sentiment is the Relative Strength Index (RSI), which ranges from 0 to 100. Stocks are classified as oversold when their RSI reading falls below 30.
On Thursday, shares of Danaher Corp (DHR) recorded an RSI of 28.5, entering oversold territory after trading as low as $249.32 per share. In comparison, the S&P 500 ETF (SPY) has an RSI of 62.2. The 52-week range for DHR is between $182.09 (low) and $281.70 (high), with the last trade reported at $248.00.
