VEON is Now Oversold | Nasdaq | World Market Information
Legendary investor Warren Buffett advises to be fearful when others are grasping, and be grasping when others are fearful. A technique we are able to attempt to measure the extent of worry in a given stock is thru a technical evaluation indicator known as the Relative Energy Index, or RSI, which measures momentum on a scale of zero to 100. A stock is taken into account to be oversold if the RSI studying falls under 30.
In trading on Tuesday, shares of VEON Ltd (Image: VEON) entered into oversold territory, hitting an RSI studying of 26.0, after altering fingers as low as $36.23 per share. By comparability, the present RSI studying of the S&P 500 ETF (SPY) is 27.2. A bullish investor may take a look at VEON’s 26.0 RSI studying at present as a signal that the latest heavy promoting is within the course of of exhausting itself, and start to search for entry level alternatives on the buy aspect. The chart under reveals the one yr efficiency of VEON shares:
Trying on the chart above, VEON’s low level in its 52 week vary is $22.17 per share, with $48.394 because the 52 week high level — that compares with a final trade of $38.03.
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NPHC Insider BuyingThe views and opinions expressed herein are the views and opinions of the writer and don’t essentially mirror these of Nasdaq, Inc.
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