Oversold Conditions For Lindsay (LNN)

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 Friday, shares of Lindsay Corp ( LNN) entered into oversold territory, hitting an RSI reading of 28.2, after changing hands as low as $72.25 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 60.1. A bullish investor could look at LNN's 28.2 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 LNN shares:

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

Lindsay Corp 1 Year Performance Chart

Looking at the chart above, LNN's low point in its 52 week range is $66.98 per share, with $94.90 as the 52 week high point — that compares with a last trade of $72.88.

According to the ETF Finder at ETF Channel, LNN makes up 3.62% of the Water Resources Portfolio ETF ( PHO) which is trading higher by about 1.2% on the day Friday.

null

More from Stocks

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

REPLAY: Jim Cramer on How to Navigate the Stock Market Amid Tariff Worries

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

Jim Cramer: 4 Stocks Could Get Throttled By a 'Knock Down Drag Out' With China

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

3 Warren Buffett Stock Picks That Could Be Perfect for Your Retirement Portfolio

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

50 Stocks That Could Be Shredded If a U.S. Trade War With China Ignites

Why Starbucks Latest Data Reveal Should Worry Investors

Why Starbucks Latest Data Reveal Should Worry Investors