Legendary investor Warren Buffett’s adage, “be fearful when others are greedy, and be greedy when others are fearful,” resonates as shares of Huntington Ingalls Industries, Inc. (Symbol: HII) entered oversold territory on Wednesday. The stock hit a Relative Strength Index (RSI) reading of 29.9, indicating significant selling pressure, and traded as low as $320.80 per share. In contrast, the S&P 500 ETF (SPY) has an RSI of 71.5.
HII’s 52-week low stands at $215.045, while its high is $460, with its last trade recorded at $321.92. Investors may see the low RSI as a potential buying opportunity amidst heavy selling.
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