Legendary investor Warren Buffett’s advice on market sentiment is particularly relevant as EHang Holdings Ltd (Symbol: EH) has recently crossed into oversold territory. On Tuesday, EH shares hit an RSI reading of 29.1, indicating heavy selling, and traded as low as $6.50 per share. In comparison, the S&P 500 ETF (SPY) has a current RSI reading of 46.3.
Within the past year, EH’s share price has seen a low of $6.50 and a high of $20.45, with the most recent trade at $6.68. Investors may view the low RSI as a potential entry point amidst exhausting selling pressures.
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