Oversold Conditions For Silver Spring Networks (SSNI)

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 Silver Spring Networks Inc ( SSNI) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $17.30 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 55.8. A bullish investor could look at SSNI's 29.9 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 SSNI shares:

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

Silver Spring Networks Inc 1 Year Performance Chart

Looking at the chart above, SSNI's low point in its 52 week range is $15.35 per share, with $33.82 as the 52 week high point — that compares with a last trade of $17.43.

According to the ETF Finder at ETF Channel, SSNI makes up 1.69% of the WilderHill Clean Energy Portfolio ETF ( PBW) which is trading higher by about 1.9% on the day Monday.


If you liked this article you might like

Tech, Energy and Financial Stocks Are Set to Reap Highest Returns for Investors in 2017

4 Stocks That Belong in Your Portfolio Now

Insider Trading Alert - CMS, SSNI And FN Traded By Insiders

Silver Spring Networks (SSNI) Is Strong On High Volume Today

Insider Trading Alert - SSNI, NSH And HCAP Traded By Insiders