Shares of Hudbay recently “entered into oversold territory,” reports Forbes.com.
In a Sept. 18 piece, the respected business-news website noted that Hudbay shares had reached a Relative Strength Index (RSI) reading of 27.1 after selling for as low as $10.41 apiece.
“A stock is considered to be oversold if the RSI reading falls below 30,” read the article.
“A bullish investor could look at” Hudbay’s RSI reading “as a sign that the recent heavy selling” of the company’s shares “is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.”
The article identified Hudbay as one of 10 oversold stocks investors need to know about.
