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 Tuesday, shares of Chart Industries Inc ( GTLS - Get Report) entered into oversold territory, hitting an RSI reading of 29.0, after changing hands as low as $37.03 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 75.2. A bullish investor could look at GTLS's 29.0 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 GTLS shares: Looking at the chart above, GTLS's low point in its 52 week range is $37.03 per share, with $103.44 as the 52 week high point — that compares with a last trade of $37.22. According to the ETF Finder at ETF Channel, GTLS makes up 1.29% of the PowerShares WilderHill Progressive Energy Portfolio ETF ( PUW) which is trading higher by about 0.4% on the day Tuesday.
More from Stocks
Acadia Falls Sharply in After-Hours Trading After Schizophrenia Drug Fails Study
Stock drops as Pimavanserin study finds no statistically significant improvement in adult schizophrenia patients.
A Slow Tape Means Investors Need to Find Other Things to Do
When the tape slows down it's a dangerous time to be trading.
Philadelphia Energy Solutions Files for Bankruptcy Protection
The filing comes a month after a fire at a Philadelphia oil refinery caused explosions.
Stocks End Higher at Start of Tech-Heavy Earnings Week, Oil Prices Rise
Stocks end higher Monday as investors prepare for a week of earnings reports and try to read the Federal Reserve's thinking on interest rates.