In trading on Tuesday, shares of Janus International Group Inc (Symbol: JBI) fell into oversold territory, reaching a low of $6.675 per share. This situation is identified using the Relative Strength Index (RSI), a technical analysis tool that gauges momentum on a scale from zero to 100. A stock is deemed oversold when its RSI drops below 30.
For Janus International Group Inc, the current RSI reading stands at 22.9. In contrast, metals and mining stocks monitored by Metals Channel have an average RSI of 54.5. Notably, Spot Gold’s RSI is at 7.7, and Spot Silver’s is at 15.0.
These low RSI figures could attract bullish investors, suggesting that the intense selling pressure may be waning. This scenario could present potential buying opportunities for those looking to enter the market.
Examining the one-year performance chart below, JBI’s lowest point in the past 52 weeks is $6.675 per share, while the highest was $15.86. Currently, shares are trading at $7.52, reflecting a decline of approximately 27.1% for the day.
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The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
