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Primo Water(PRMW - Get Report) is a provider of three- and five-gallon purified bottled water and water dispensers sold through retailers. This stock is trading up 5.7% to $2.96 in recent trading.
Today's Range: $2.78-$3.07
52-week Range: $2.74-$16.45
Three-Month Average Volume: 584,574
This stock has started to bounce to the upside as bargain hunters swoop in with shares trading very close to its 52-week low of $2.74, which was hit yesterday.
From a technical standpoint, this stock is extremely oversold now since its relative strength index (RSI) is showing a reading of 28.80 Any reading below 30 is considered oversold, so we are reaching some extreme oversold levels with PRMW here.
>>Using Relative Strength to Beat the Market
If this stock can sustain its gains today and close near the highs, then it could be worth a shot for a rebound trade. If we get that action and you're long the stock, then look to add on any future high-volume move above some overhead resistance at $3.45. Look for volume close to or above its three-month average action of 584,574 shares.