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On Friday, shares of Novanta Inc (Symbol: NOVT) reached an oversold status with a Relative Strength Index (RSI) reading of 29.8, after trading as low as $100.42 per share. This is below the oversold threshold of 30, indicating significant selling pressure.
For context, the S&P 500 ETF (SPY) has an RSI of 61.5. Novanta’s stock price has fluctuated within a 52-week range of $98.76 (low) to $184.11 (high), with the latest trade recorded at $101.03.
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