Warren Buffett famously advised investors to be fearful when others are greedy and greedy when others are fearful. One useful method for gauging the level of fear surrounding a particular stock is the Relative Strength Index (RSI), a momentum indicator measured on a scale from zero to 100. Generally, a stock is regarded as oversold when its RSI dips below 30.
On Friday, shares of Fresenius Medical Care (Symbol: FMS) entered oversold territory, printing an RSI reading of 29.7 and trading as low as $23.83. For context, the S&P 500 ETF (SPY) currently has an RSI of 55.4. Bullish investors may interpret FMS’s 29.7 RSI as a signal that recent selling pressure is beginning to fade, potentially setting the stage for a rebound and presenting an opportunity to initiate positions on the long side. The chart below illustrates FMS’s performance over the past year:
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As shown, the stock’s 52-week low stands at $23.29 per share, while its 52-week high is $42.13. Its most recent trade was recorded at $24.07.
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