Warren Buffett’s Wisdom: A Deep Dive into Rogers Communications’ Oversold Status
Legendary investor Warren Buffett champions the notion of being fearful when others are greedy, and being greedy when others are fearful. A tool that can help gauge the level of investor fear surrounding a stock is the Relative Strength Index (RSI). This technical analysis indicator evaluates momentum on a scale from zero to 100. When the RSI falls below 30, a stock is deemed oversold.
Rogers Communications’ Current Situation
On Friday, shares of Rogers Communications Inc (Symbol: RCI) registered an RSI reading of 29.9, indicating they have entered oversold territory, trading as low as $38.13 per share. In contrast, the S&P 500 ETF (SPY) currently holds an RSI of 63.1. For bullish investors, RCI’s current RSI might signal that the heavy selling could be winding down, potentially creating a favorable buying opportunity. The chart below illustrates the one-year performance of RCI shares:
Understanding RCI’s Historical Performance
The chart shows that RCI’s lowest point in the past 52 weeks was $35.55 per share, while its highest was $48.19. At the last trade, RCI shares were priced at $38.11, reflecting its current position within this range.
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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.
