Everybody loves finding a bargain or getting a good deal, and it's no different when it comes to stocks. One of the most popular technical indicators for helping investors find these is the Relative Strength Index (RSI).
Every stock has one. It works by considering a stock's recent performance over the past 14 trading days and spitting out a number ranging from 0 to 100. An RSI reading of more than 70 suggests extremely overbought conditions, while a reading below 30 suggests the opposite. The more extreme the reading, the more extreme the suggested condition of the stock.
With the benchmark S&P 500 index back up around all-time highs since the Fed confirmed it was cutting rates, investor sentiment is clearly still bullish. This makes it all the more interesting when you then see a stock selling hard. Any indication that the selling might be verging on overdone or that the bears are running out of steam can mean a quick bounce is in store. With that in mind, here are three stocks with RSI readings that suggest they're extremely oversold.
Wall Street Sees Opportunity in Humana's Oversold Condition
Humana Inc., the for-profit health insurance company, has been ...
