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 Thursday, shares of ManTech International Corp ( MANT - Get Report) entered into oversold territory, hitting an RSI reading of 22.0, after changing hands as low as $28.46 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 52.1. A bullish investor could look at MANT's 22.0 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 MANT shares: Looking at the chart above, MANT's low point in its 52 week range is $26.09 per share, with $35.23 as the 52 week high point — that compares with a last trade of $29.52. According to the ETF Finder at ETF Channel, MANT makes up 1.64% of the iShares Enhanced U.S. Small-Cap ETF ( IESM) which is trading relatively unchanged on the day Thursday.
More from Stocks
Dow Futures Flat, Global Stocks Mixed; Brexit Talks, US Earnings Drive Sentiment
Global stocks traded mixed Wednesday, with modest gains in Asia offset by weaker U.S. equity futures, as investors eyed the final hours of Brexit negotiations between Britain and the EU while awaiting around round of third quarter earnings reports on Wall Street.
IBM Third-Quarter Revenue and Earnings Expected to Fall
Analysts polled by FactSet are expecting earnings of $2.66 per share on revenue of $18.2 billion.
Crown Castle International Expected to Earn 49 Cents a Share
Crown Castle International revenue expected to rise 7.5% to $1.5 billion.