Asanko Gold Stock Getting Very Oversold
In the case of Asanko Gold Inc, the RSI reading has hit 28.3 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 37.8, the RSI of Spot Gold is at 31.1, and the RSI of Spot Silver is presently 29.8.
A bullish investor could look at AKG's 28.3 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), AKG's low point in its 52 week range is $1.98 per share, with $4.39 as the 52 week high point — that compares with a last trade of $2.01. Asanko Gold Inc shares are currently trading down about 3.4% on the day.