Buffett’s Wisdom: Analyzing Extreme Networks Amid Market Fear
Is Extreme Networks Oversold? A Look at RSI Indicators
Legendary investor Warren Buffett famously said to be fearful when others are greedy and greedy when others are fearful. One way to gauge fear in a stock is through an indicator called the Relative Strength Index (RSI). This tool measures price momentum on a scale from zero to 100, with a reading below 30 indicating that a stock is potentially oversold.
On Thursday, shares of Extreme Networks Inc (Symbol: EXTR) fell into oversold territory, recording an RSI of 29.3 after trading as low as $15.55. This is noteworthy compared to the current RSI of the S&P 500 ETF (SPY), which stands at 55.4. For bullish investors, the low RSI reading for EXTR might suggest that intense selling is losing steam, creating potential buying opportunities. The chart below illustrates EXTR’s performance over the past year:
As examined in the chart, EXTR’s 52-week low is $10.495 per share, while its high is $19.24. The latest trade price was recorded at $15.60.
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Also see:
WBS Stock Predictions
CIE Historical Stock Prices
Institutional Holders of FH
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
