On Thursday, shares of Thermo Fisher Scientific Inc (TMO) dropped to an oversold level with a Relative Strength Index (RSI) reading of 25.9, indicating significant selling pressure. The stock traded as low as $470.61 per share, while the S&P 500 ETF (SPY) held an RSI of 51.0, highlighting TMO’s stark contrast in momentum.
TMO’s share price has fluctuated between a 52-week low of $470.61 and a high of $609.85, with its latest trade at $481.92. Investors may interpret the low RSI as a potential buying opportunity, suggesting the recent selling may be nearing its end.
