Warren Buffett’s investment philosophy highlights the importance of contrasting market sentiment. On Friday, October 6, 2023, Payoneer Global Inc (Symbol: PAYO) saw its Relative Strength Index (RSI) drop to 29.6, indicating that its shares have entered oversold territory. The stock traded as low as $8.32 per share, which is on the verge of its 52-week low of $4.22 and significantly below its 52-week high of $11.29. In contrast, the S&P 500 ETF (SPY) has an RSI reading of 41.9.
This oversold condition may suggest a potential turning point for PAYO, as heavy selling could be nearing exhaustion. The most recent trade for PAYO was recorded at $8.48.
