PGTI Stock Crowded With Sellers

In trading on Monday, shares of PGT Inc ( PGTI) entered into oversold territory, changing hands as low as $9.23 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 PGT Inc, the RSI reading has hit 29.2 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 45.5, the RSI of Spot Gold is at 39.8, and the RSI of Spot Silver is presently 35.1.

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

A bullish investor could look at PGTI's 29.2 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), PGTI's low point in its 52 week range is $6.74 per share, with $12.61 as the 52 week high point — that compares with a last trade of $9.31. PGT Inc shares are currently trading down about 3.6% on the day.

PGT Inc 1 Year Performance Chart

If you liked this article you might like

Investing Your Tax Refund Now Delivers Greater Returns

Under Armour, Home Depot Close Lower as Consumer Goods Sell Off

Weak On High Volume: PGT (PGTI)

Today's Weak On High Volume Stock: PGT (PGTI)

PGT (PGTI) Strong On High Relative Volume Today