India Consumer (INCO) Enters Oversold Territory
In the case of India Consumer, the RSI reading has hit 29.1 — by comparison, the RSI reading for the S&P 500 is currently 47.0.
A bullish investor could look at INCO's 29.1 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), INCO's low point in its 52 week range is $16.53 per share, with $25.22 as the 52 week high point — that compares with a last trade of $21.81. India Consumer shares are currently trading off about 1.4% on the day.