In the case of Grupo Simec S.A.B. de C.V., the RSI reading has hit 25.8 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 49.1, the RSI of Spot Gold is at 9.9, and the RSI of Spot Silver is presently 16.6. A bullish investor could look at SIM's 25.8 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), SIM's low point in its 52 week range is $22.15 per share, with $33.775 as the 52 week high point — that compares with a last trade of $22.15. Grupo Simec S.A.B. de C.V. shares are currently trading off about 12.7% on the day.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
