In trading on Thursday, shares of Unilever plc (Symbol: UL) entered into oversold territory, hitting an RSI reading of 29.5, after changing hands as low as $57.18 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 68.3. A bullish investor could look at UL's 29.5 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 UL shares:
Looking at the chart above, UL's low point in its 52 week range is $54.95 per share, with $74.975 as the 52 week high point — that compares with a last trade of $57.28.
Never miss the next high-yield opportunity: Preferred Stock Alerts sends timely, actionable picks on income-producing preferred stocks and baby bonds, straight to your inbox.
Find out what 9 other oversold stocks you need to know about »
Also see:
Dividend Articles SCVL Videos
Cheap Stocks Channel
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
