Shares Of NAK Now Oversold
In the case of Northern Dynasty Minerals Ltd., the RSI reading has hit 28.5 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 35.7, the RSI of Spot Gold is at 28.0, and the RSI of Spot Silver is presently 27.5.
A bullish investor could look at NAK's 28.5 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), NAK's low point in its 52 week range is $1.94 per share, with $5.40 as the 52 week high point — that compares with a last trade of $1.96. Northern Dynasty Minerals Ltd. shares are currently trading off about 4.8% on the day.
According to the ETF Finder at ETF Channel, NAK makes up 2.33% of the Copper Miners ETF