In trading on Tuesday, shares of Lamar Advertising Co (Symbol: LAMR) entered into oversold territory, hitting an RSI reading of 28.8, after changing hands as low as $101 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 20.7. A bullish investor could look at LAMR'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 LAMR shares:
Looking at the chart above, LAMR's low point in its 52 week range is $100 per share, with $139.875 as the 52 week high point — that compares with a last trade of $101.00.
Find out what 9 other oversold stocks you need to know about »
Also see:
Top Stocks Held By Larry Robbins RRC Insider Buying
ServiceNow DMA
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
