In trading on Tuesday, shares of Ethan Allen Interiors, Inc. (Symbol: ETD) entered into oversold territory, hitting an RSI reading of 28.8, after changing hands as low as $21.25 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 46.9. A bullish investor could look at ETD's 28.8 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 ETD shares:
Looking at the chart above, ETD's low point in its 52 week range is $21.20 per share, with $31.4105 as the 52 week high point — that compares with a last trade of $21.23.
Free Report: Top 8%+ Dividends (paid monthly)
Find out what 9 other oversold stocks you need to know about »
Also see:
Stocks Insiders And Hedge Funds Are Buying VPU Options Chain
High Beta Stocks
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
