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Shares of AWI Now Oversold

In trading on Monday, shares of Armstrong World Industries Inc (Symbol: AWI) entered into oversold territory, changing hands as low as $44.72 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 Armstrong World Industries Inc, the RSI reading has hit 29.1 - by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 38.7, the RSI of Spot Gold is at 39.7, and the RSI of Spot Silver is presently 28.8. A bullish investor could look at AWI's 29.1 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), AWI's low point in its 52 week range is $44.72 per share, with $60.70 as the 52 week high point - that compares with a last trade of $44.79. Armstrong World Industries Inc shares are currently trading down about 2.2% on the day.

Armstrong World Industries Inc 1 Year Performance Chart

According to the ETF Finder at ETF Channel, AWI makes up 2.86% of the SPDR S&P Homebuilders ETF (Symbol: XHB) which is trading lower by about 1.2% on the day Monday.

Click here to find out what 9 other oversold metals stocks you need to know about »

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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