Buffett’s Fear-Greed Philosophy Applied: Tarsus Pharmaceuticals Hits Oversold Mark
Legendary investor Warren Buffett famously advised to be fearful when others are greedy, and greedy when others are fearful. A useful tool for assessing market fear is the Relative Strength Index (RSI), which measures momentum on a scale from zero to 100. An RSI reading below 30 indicates that a stock is considered oversold.
On Tuesday, trading revealed that shares of Tarsus Pharmaceuticals Inc (Symbol: TARS) reached oversold territory, posting an RSI of 29.7 after trading as low as $40.78 per share. In contrast, the current RSI for the S&P 500 ETF (SPY) stands at 63.4. This relatively low RSI for TARS may signal that its recent heavy selling is nearing exhaustion, presenting potential buying opportunities for bullish investors. The chart below illustrates TARS’s performance over the past year:
According to the chart, TARS’s 52-week low rests at $20.08 per share, while its 52-week high is $57.28. The last trade occurred at $41.21.
Discover 9 other oversold stocks worth watching »
Also See:
- Funds Holding PMAR
- HAFC Insider Buying
- JJN Videos
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
