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On Wednesday, shares of Sable Offshore Corp (Symbol: SOC) reached an oversold status with a Relative Strength Index (RSI) reading of 29.9, trading as low as $11.43 per share. This is compared to the current RSI of 56.7 for the S&P 500 ETF (SPY). A bullish investor may interpret SOC’s RSI reading as a potential entry point for buying as the selling pressure may be nearing exhaustion.
SOC’s 52-week range highlights a low of $11.2501 and a high of $35, with the last trade recorded at $11.82.
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