On Wednesday, October 18, 2023, shares of ESAB Corp (Symbol: ESAB) entered oversold territory with a Relative Strength Index (RSI) reading of 29.9, indicating a potential buy opportunity as the stock traded as low as $108 per share. In comparison, the S&P 500 ETF (SPY) has an RSI of 63.4.
ESAB’s 52-week price range shows a low of $92.86 and a high of $135.97, with the last trade recorded at $109.27. The technical analysis suggests that the recent selling pressure may be waning, providing bullish investors with an opportunity to consider entering the market.
