Legendary investor Warren Buffett’s strategy of being fearful when others are greedy is highlighted by the recent trading activity of Tesla Inc (TSLA). On Thursday, TSLA shares fell to an oversold Relative Strength Index (RSI) reading of 29.9, indicating a potential buying opportunity, as the stock changed hands as low as $387.53 per share. In comparison, the S&P 500 ETF (SPY) has a current RSI of 39.9.
Tesla’s 52-week performance shows a low of $214.25 and a high of $498.83, with the last trade recorded at $397.06. Investors might view the low RSI as a sign of exhausting selling pressure, potentially signaling a favorable entry point for bullish investors.
