Legendary investor Warren Buffett advises to be fearful when others are greedy and be greedy when others are fearful. One way to measure the level of fear of a particular stock is to use a technical analysis indicator called the Relative Strength Index (RSI), which measures momentum on a scale of 0 to 100. The RSI reading has fallen below 30.
In Monday’s trading, shares of Trinity Industries, Inc. (symbol: TRN) entered oversold territory, dropping to $23.36 per share before reaching an RSI reading of 28.6. By comparison, the S&P 500 ETF (SPY) currently has an RSI value of 37.7. Bullish investors can take today’s TRN reading of 28.6 RSI as a sign that the recent massive sell-off is running out and start looking for entry point opportunities on the buy side. The chart below shows his one-year performance of the TRN stock.
Looking at the chart above, TRN has a 52-week range low of $20.94 per share and a 52-week high of $35.35 per share.
See also
• Historical stock price of COBZ
• TCFC dividend growth rate
• Funds holding EUCG
The views and opinions expressed herein are those of the authors and do not necessarily reflect those of Nasdaq, Inc.
