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Super Micro Computer Becomes Oversold (SMCI)

LEgendary investor Warren Buffett advises to be afraid when others are selfish, and to be selfish when others are afraid. One way we can try to measure the fear level of a stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to at 100. A stock is considered oversold if the RSI reading falls below 30.

In Friday’s trading, shares of Super Micro Computer Inc (Symbol: SMCI) entered oversold territory, hitting an RSI reading of 29.0, after exchanging hands below $ 38.56 per share. In comparison, the current RSI reading of the S&P 500 ETF (SPY) is 43.8. A strong investor might look at SMCI’s 29.0 RSI reading today as a sign that the new heavy sell is in the process of exhausting itself, and start looking for entry. point buy side opportunities. The chart below shows the one -year performance of SMCI shares:

Super Micro Computer Inc 1 Year Performance Chart

Looking at the chart above, SMCI’s low point in its 52-week order was $ 32.88 per share, with $ 58.34 as the 52-week high point-compared to last trading’s $ 38.49 .

Find out what 9 other oversold stocks you need to know »

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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