Warren Buffett’s Wisdom Applied: Is It Time to Buy ING Groep NV?
In the world of investing, navigating market emotions can be tricky. Legendary investor Warren Buffett often reminds us to be fearful when others are greedy, and to be greedy when others are fearful. One way to gauge market fear around a stock is by using the Relative Strength Index (RSI). This technical analysis tool evaluates a stock’s momentum on a scale from zero to 100, indicating oversold conditions when the RSI dips below 30.
On Wednesday, shares of ING Groep NV (Symbol: ING) dropped into oversold territory with an RSI of 29.5, trading as low as $16.15 per share. In contrast, the S&P 500 ETF (SPY) has an RSI reading of 61.9. For bullish investors, ING’s 29.5 RSI suggests that the recent sell-off could be losing steam, opening potential buying opportunities. Below is a chart illustrating the one-year performance of ING shares:
According to the chart, ING’s 52-week low stands at $12.775, with a high of $18.72. Currently, the stock trades at $16.24, highlighting its position between these thresholds.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
