Franco-Nevada Corp Hits Oversold Mark: What Investors Should Know
On Friday, shares of Franco-Nevada Corp (Symbol: FNV) fell into oversold territory, reaching a price low of $121.45 per share. This classification comes from the use of the Relative Strength Index (RSI), a tool that gauges market momentum on a scale from 0 to 100. Generally, a stock is termed oversold when its RSI falls below 30.
Franco-Nevada’s current RSI sits at 29.9. In contrast, the broader category of metals and mining stocks covered by Metals Channel has an average RSI of 48.3. For reference, Spot Gold’s RSI is notably low at 7.4, while Spot Silver’s RSI stands at 12.3. Investors who are bullish may interpret FNV’s 29.9 reading as a potential sign that the recent selling pressure could be waning, providing possible opportunities to buy.
Examining FNV’s performance over the past year, the stock’s lowest point in its 52-week range was $102.29 per share, with its highest reaching $137.60. Presently, shares are trading at $121.48, reflecting a decline of approximately 3.9% on the day.
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- HPCO shares outstanding history
The views and opinions expressed herein are those of the author and do not necessarily reflect the views of Nasdaq, Inc.
