In trading on Tuesday, shares of Harmonic, Inc. (Symbol: HLIT) entered into oversold territory, hitting an RSI reading of 24.4, after changing hands as low as $10.385 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 60.8. A bullish investor could look at HLIT's 24.4 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 HLIT shares:
Looking at the chart above, HLIT's low point in its 52 week range is $9.10 per share, with $15.46 as the 52 week high point — that compares with a last trade of $11.10.
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Also see:
Income Calendar CABO YTD Return
HLT Options Chain
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