In Thursday trading, shares of Masco Corp. (symbol: MAS) entered oversold territory, changing hands as low as $67.10 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. If the RSI reading falls below 30 then the stock is considered oversold.
In the case of Masco Corp, the RSI reading has hit 29.8 – by comparison, the average RSI across the universe of metals and mining stocks covered by Metals Channel is currently 58.9, Spot Gold’s RSI is at 12.3, and Spot Silver’s RSI is currently at 17.4. A bullish investor may view MAS’s 29.8 reading as a sign that the recent heavy selloff is in the process of coming to an end, and begin looking for entry point opportunities on the buy side.
Looking at the chart of one-year performance (below), MAS’s low point in the 52-week range is $56.96 per share, with a 52-week high point of $86.70 – compared to the previous trade of $67.47. Masco Corp shares are currently trading down about 1.9% on the day.
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• CHIH Market Cap History
• GYRE YTD return
• ONTF Option Series
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