Bargain Alert: LTC Properties Shows Signs of Oversold Conditions
Warren Buffett’s wisdom rings true: it’s wise to be cautious when others are overly confident and bold when the market is anxious. A useful tool to gauge this fear is the Relative Strength Index (RSI), which measures stock momentum on a scale from 0 to 100. If a stock’s RSI falls below 30, it indicates that it may be oversold.
On Wednesday, shares of LTC Properties, Inc. (Symbol: LTC) experienced a downturn, achieving an RSI of 29.5 as they traded as low as $35.19 per share. In contrast, the S&P 500 ETF (SPY) currently has an RSI of 44.6. For bullish investors, LTC’s low RSI might signal that the recent sell-off is reaching its peak, leading them to consider potential buying opportunities. Below is the one-year performance chart for LTC shares:
Examining the chart, LTC has seen a low of $30.30 and a high of $39.89 over the past 52 weeks, with its most recent trade at $35.41.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
