CRY Getting Very Oversold
In trading on Monday, shares of the CRY ETF (Symbol: CRY) entered into oversold territory, changing hands as low as $18.29 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In the case of CRY, the RSI reading has hit 26.6 — by comparison, the RSI reading for the S&P 500 is currently 52.3. A bullish investor could look at CRY's 26.6 reading 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.
Looking at a chart of one year performance (below), CRY's low point in its 52 week range is $18.24 per share, with $25.925 as the 52 week high point — that compares with a last trade of $18.24. CRY shares are currently trading off about 2.2% on the day.
Find out what 9 other oversold stocks you need to know about »
Further CRY Research:
