Legendary investor Warren Buffett advised us to be fearful when others are greedy and greedy when others are fearful. One of the ways he measures the level of fear of a particular stock is by using a technical analysis indicator called the Relative Strength Index (RSI). RSI measures momentum on a scale of 0 to 100. The RSI value is below 30.
In Tuesday’s trading, shares of Petco Health & Wellness (symbol: WOOF) entered oversold territory, hitting an RSI of 29.9 after trading low at $7.85 per share. By comparison, his current RSI reading for the S&P 500 ETF (SPY) is 58.6. Bullish investors may take today’s WOOF’s 29.9 RSI value as a sign that the recent intense sell-off is reaching its limits and start looking for entry point opportunities on the buy side. The graph below shows his one-year performance of the WOOF stock.
Looking at the chart above, WOOF has a 52-week range low of $7.29 per share and a 52-week high of $17.165, last trading at $7.87.
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Find out about 9 other oversold stocks you should know »
See also
• Top 10 hedge funds holding MLQD
• Top 10 hedge funds holding CCAC
The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.
Summarize this content to 100 words
Legendary investor Warren Buffett advised us to be fearful when others are greedy and greedy when others are fearful. One of the ways he measures the level of fear of a particular stock is by using a technical analysis indicator called the Relative Strength Index (RSI). RSI measures momentum on a scale of 0 to 100. The RSI value is below 30.
In Tuesday’s trading, shares of Petco Health & Wellness (symbol: WOOF) entered oversold territory, hitting an RSI of 29.9 after trading low at $7.85 per share. By comparison, his current RSI reading for the S&P 500 ETF (SPY) is 58.6. Bullish investors may take today’s WOOF’s 29.9 RSI value as a sign that the recent intense sell-off is reaching its limits and start looking for entry point opportunities on the buy side. The graph below shows his one-year performance of the WOOF stock.
Looking at the chart above, WOOF has a 52-week range low of $7.29 per share and a 52-week high of $17.165, last trading at $7.87.
Free Report: Top 8% and Above Dividends (Paid Monthly)
Find out about 9 other oversold stocks you should know »
See also
• Top 10 hedge funds holding MLQD
• Top 10 hedge funds holding CCAC
• SWS division historyThe views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.
https://www.nasdaq.com/articles/petco-health-wellness-enters-oversold-territory-woof Petco Health & Wellness Enters Oversold Territory (WOOF)