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On Wednesday, Progress Software Corp (Symbol: PRGS) shares reached an oversold status with a Relative Strength Index (RSI) reading of 29.9 while trading as low as $39.28 per share. The current RSI for the S&P 500 ETF (SPY) is 41.4, indicating a significant drop in investor sentiment for PRGS.
Over the past year, PRGS has hit a low of $39 per share and a high of $70.555. The last trade price was $39.38, suggesting that the stock may be nearing a potential buying opportunity as the recent selling pressure begins to exhaust.
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