Coupa Software Becomes Oversold (COUP)

Maria J. Smith

Legendary investor Warren Buffett advises to be fearful when other people are greedy, and be greedy when other individuals are fearful. 1 way we can consider to evaluate the degree of dread in a presented stock is as a result of a technological examination indicator known as the Relative Power Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI examining falls down below 30.

In investing on Monday, shares of Coupa Software package Inc (Image: COUP) entered into oversold territory, hitting an RSI studying of 29.9, immediately after shifting palms as low as $68.55 for each share. By comparison, the present-day RSI studying of the S&P 500 ETF (SPY) is 34.7. A bullish trader could look at COUP’s 29.9 RSI reading through currently as a signal that the latest heavy advertising is in the system of exhausting alone, and start out to seem for entry position alternatives on the acquire facet. The chart down below reveals the one particular yr performance of COUP shares:

Coupa Software Inc 1 Year Performance Chart

Hunting at the chart higher than, COUP’s lower point in its 52 week range is $64.79 per share, with $283.38 as the 52 7 days significant position — that compares with a past trade of $69.64.

Free Report: Top 7%+ Dividends (compensated regular monthly)

Find out what 9 other oversold shares you will need to know about »

The sights and opinions expressed herein are the sights and opinions of the author and do not always reflect all those of Nasdaq, Inc.

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