Legendary investor Warren Buffett’s advice to be fearful when others are greedy and greedy when others are fearful is particularly relevant in today’s market. On Monday, shares of Darling Ingredients Inc (Symbol: DAR) entered oversold territory, recording a Relative Strength Index (RSI) of 29.0 after trading as low as $30.75 per share. For context, the S&P 500 ETF (SPY) has an RSI of 30.4, indicating a high level of selling pressure on DAR.
Over the past year, DAR shares fluctuated with a 52-week low of $30.68 and a high of $48.39. Investors may interpret the current RSI reading as a potential signal to start looking for buy opportunities given that the recent selling may be losing momentum.
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