Relative Strength Alert For AcuityAds Holdings (AT.CA)By Canada Stock Channel Staff, Thursday, April 15, 4:27 PM ET
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Thursday, shares of AcuityAds Holdings Inc (TSE:AT.CA) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $13.56 per share. By comparison, the current RSI reading of the S&P/TSX Composite Index is 73.6. A bullish investor could look at AT.CA's 29.9 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of AT.CA shares:
Looking at the chart above, AT.CA's low point in its 52 week range is $0.90 per share, with $33.08 as the 52 week high point — that compares with a last trade of $13.79. Find out what 9 other oversold stocks you need to know about »
Special Offer: Receive our best dividend ideas directly to your inbox each afternoon with the Dividend Channel Premium Newsletter
This Article's Word Cloud: AcuityAds Buffett Channel Composite Dividend Find Holdings Index Legendary Looking Newsletter Offer Premium Receive Relative Special Strength Thursday Warren about above advises after afternoon analysis begin below best bullish called changing chart compares comparison considered fearful greedy investor look others oversold point reading share shares stock that week when with