NPK Crosses Critical Technical Indicator

In trading on Tuesday, shares of National Presto Industries, Inc. ( NPK) entered into oversold territory, changing hands as low as $61.00 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 National Presto Industries, Inc., the RSI reading has hit 28.5 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 34.1, the RSI of Spot Gold is at 27.6, and the RSI of Spot Silver is presently 10.8.

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

A bullish investor could look at NPK's 28.5 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), NPK's low point in its 52 week range is $60.68 per share, with $84.00 as the 52 week high point — that compares with a last trade of $61.09. National Presto Industries, Inc. shares are currently trading off about 1.5% on the day.

National Presto Industries, Inc. 1 Year Performance Chart

If you liked this article you might like

Gunmaker Shares Confounded by Current Political Rhetoric

Gunmaker Shares Confounded by Current Political Rhetoric

Insider Trading Alert - RCKY, BRKR And NPK Traded By Insiders

Insider Trading Alert - RCKY, BRKR And NPK Traded By Insiders

3 Stocks Pushing The Aerospace/Defense Industry Lower

3 Stocks Pushing The Aerospace/Defense Industry Lower

5 Value Stocks With Low Price-to-Earnings Ratios: Chevron, Unum, Aflac, More

5 Value Stocks With Low Price-to-Earnings Ratios: Chevron, Unum, Aflac, More

National Presto Industries Stock Downgraded (NPK)

National Presto Industries Stock Downgraded (NPK)