Shares Of MTRN Now Oversold

In trading on Monday, shares of Materion Corp (MTRN) entered into oversold territory, changing hands as low as $24.94 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. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of Materion Corp, the RSI reading has hit 27.5 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 33.4, the RSI of Spot Gold is at 16.4, and the RSI of Spot Silver is presently 16.2.

START SLIDESHOW:
Click here to find out what 9 other oversold metals stocks you need to know about »

A bullish investor could look at MTRN's 27.5 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.

Looking at a chart of one year performance (below), MTRN's low point in its 52 week range is $17.59 per share, with $29.81 as the 52 week high point — that compares with a last trade of $25.08. Materion Corp shares are currently trading down about 7.1% on the day.

Materion Corp 1 Year Performance Chart

According to the ETF Finder at ETF Channel, MTRN makes up 1.45% of the S&P SmallCap Materials Portfolio ETF (PSCM) which is trading lower by about 4.5% on the day Monday.

null

More from Stocks

CHART: Here's How Much Apple Stock Has Lost in Value in the Last Five Days

CHART: Here's How Much Apple Stock Has Lost in Value in the Last Five Days

Podcast: Coca-Cola CFO Kathy Waller Talks About Future of Women in Business

Podcast: Coca-Cola CFO Kathy Waller Talks About Future of Women in Business

Wait, Google Was Almost Called What?

Wait, Google Was Almost Called What?

Apple Suppliers Slide After European, Asian Chipmakers Echo Smartphone Concerns

Apple Suppliers Slide After European, Asian Chipmakers Echo Smartphone Concerns

Alphabet, Caterpillar, Coca-Cola and Amazon - 5 Things You Must Know

Alphabet, Caterpillar, Coca-Cola and Amazon - 5 Things You Must Know