Oversold Conditions For Dole Food (DOLE)

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In trading on Monday, shares of Dole Food Co., Inc. ( DOLE) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $9.35 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 51.7. A bullish investor could look at DOLE's 29.8 RSI reading today 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. The chart below shows the one year performance of DOLE shares:

START SLIDESHOW:
Find out what 9 other oversold stocks you need to know about »

Dole Food Co., Inc. 1 Year Performance Chart

Looking at the chart above, DOLE's low point in its 52 week range is $8.39 per share, with $15.19 as the 52 week high point — that compares with a last trade of $9.40.

According to the ETF Finder at ETF Channel, DOLE makes up 1.99% of the Dynamic Food & Beverage Portfolio ETF ( PBJ) which is trading lower by about 0.4% on the day Monday.

null

More from Stocks

Starbucks Shares Gain as Investor Day Highlights China Growth Ambitions

Starbucks Shares Gain as Investor Day Highlights China Growth Ambitions

Real Money Video Wrap: GE Jumps as Analysts Look to Price in Bottom

Real Money Video Wrap: GE Jumps as Analysts Look to Price in Bottom

Adobe Tops Q4 Sales Forecasts, Sees $11.1 Billion in 2019 Revenues

Adobe Tops Q4 Sales Forecasts, Sees $11.1 Billion in 2019 Revenues

Stocks End Indecisively, General Electric Rises, Key Trends You Need to Watch

Stocks End Indecisively, General Electric Rises, Key Trends You Need to Watch

This Is Bear Market Action

This Is Bear Market Action