COLUF Stock Crowded With Sellers
In the case of Colossus Minerals Inc, the RSI reading has hit 29.5 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 48.5, the RSI of Spot Gold is at 34.7, and the RSI of Spot Silver is presently 34.5.
A bullish investor could look at COLUF's 29.5 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), COLUF's low point in its 52 week range is $1.5943 per share, with $6.13 as the 52 week high point — that compares with a last trade of $1.61. Colossus Minerals Inc shares are currently trading down about 6.6% on the day.