In trading on Wednesday, shares of Revett Mining Co Inc (RVM) entered into oversold territory, changing hands as low as $0.8631 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 Revett Mining Co Inc, the RSI reading has hit 27.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 42.3, the RSI of Spot Gold is at 39.0, and the RSI of Spot Silver is presently 35.2. START SLIDESHOW:
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