Legendary investor Warren Buffett’s advice to be fearful when others are greedy and greedy when others are fearful reflects current trading behavior in shares of DRD Gold Ltd (Symbol: DRD). On Wednesday, the stock’s Relative Strength Index (RSI) dropped to 28.2, indicating it is in oversold territory, after shares traded as low as $21.95. In contrast, the S&P 500 ETF (SPY) has an RSI of 41.3.
Over the past year, DRD’s share price has fluctuated between a low of $12.75 and a high of $39.37, closing at $21.94 in the latest trading session. The low RSI could suggest that heavy selling is nearing its end, potentially signaling a buying opportunity for investors.
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