RVM Crosses Critical Technical Indicator
In the case of Revett Minerals Inc, the RSI reading has hit 29.9 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 45.1, the RSI of Spot Gold is at 38.2, and the RSI of Spot Silver is presently 36.6.
A bullish investor could look at RVM's 29.9 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), RVM's low point in its 52 week range is $1.31 per share, with $3.95 as the 52 week high point — that compares with a last trade of $1.37. Revett Minerals Inc shares are currently trading down about 0.7% on the day.