Legendary investor Warren Buffett suggests a simple strategy: be fearful when others are greedy, and be greedy when others are fearful. A useful tool for assessing fear in stocks is the Relative Strength Index (RSI), which gauges momentum on a scale from zero to 100. If a stock’s RSI falls below 30, it’s considered oversold.
On Monday, shares of Weride Inc Ads (Symbol: WRD) entered oversold territory with an RSI of 28.9, with trading dipping as low as $12.8519 per share. For context, the current RSI of the S&P 500 ETF (SPY) stands at 53.0. A bullish investor might interpret WRD’s 28.9 RSI as a sign that the recent selling pressure may be fading, suggesting potential buying opportunities may arise soon. Below is the one-year performance chart for WRD shares:
From the chart, we see that WRD’s 52-week low is $12.8519 per share, while the high reached $22.69. The most recent trade closed at $13.12.
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Also see:
• ACVA YTD Return
• CERS Options Chain
• LRY Insider Buying
The views and opinions expressed herein are those of the author and do not necessarily reflect those of Nasdaq, Inc.
