Endeavour Silver (EXK) Shares Enter Oversold Territory

In trading on Monday, shares of Endeavour Silver Corp (EXK) entered into oversold territory, changing hands as low as $4.41 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 Endeavour Silver Corp, the RSI reading has hit 29.8 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 36.6, the RSI of Spot Gold is at 20.2, and the RSI of Spot Silver is presently 14.4.

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

A bullish investor could look at EXK's 29.8 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), EXK's low point in its 52 week range is $3.12 per share, with $6.44 as the 52 week high point — that compares with a last trade of $4.46. Endeavour Silver Corp shares are currently trading down about 5.7% on the day.

Endeavour Silver Corp 1 Year Performance Chart

According to the ETF Finder at ETF Channel, EXK makes up 4.34% of the Silver Miners ETF ( SIL) which is trading relatively unchanged on the day Monday.

More from Stocks

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

Week Ahead: Trade Fears and Stress Tests Signal More Volatility To Come

3 Great Stock Market Sectors Millennials Should Invest In

3 Great Stock Market Sectors Millennials Should Invest In

Why Millennials Are Ditching Stocks for ETFs

Why Millennials Are Ditching Stocks for ETFs

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Trump's 'Space Force' Could Launch a $1 Trillion Industry, Morgan Stanley Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says

Abiomed Stock Should Rise Some 12% From Here, Piper Jaffray Analyst Says