Legendary investor Warren Buffett advises to be fearful when others are greedy and greedy when others are fearful. One way to measure the level of fear of a particular stock is to use a technical analysis indicator called the Relative Strength Index (RSI), which measures momentum on a scale of 0 to 100. The RSI reading has fallen below 30.
In Tuesday’s trading, shares of Helen of Troy Ltd. (symbol: HELE) entered oversold territory with the RSI reaching 29.6. By comparison, the S&P 500 ETF (SPY) currently has an RSI value of 41.5. Bullish investors can take HELE’s 29.6 RSI reading today as a sign that the recent heavy sell-off is running out and start looking for entry point opportunities on the buy side. The chart below shows his one-year performance of the HELE stock.
Looking at the chart above, HELE has a 52-week range low of $114.62 per share and a 52-week high of $256.26 per share.
The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.
https://www.nasdaq.com/articles/helen-of-troy-becomes-oversold-hele-1 Helen of Troy oversold (HELE)