Allied Nevada Gold Corp (ANV) Shares Enter Oversold Territory
In the case of Allied Nevada Gold Corp, the RSI reading has hit 30.0 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 46.5, the RSI of Spot Gold is at 39.2, and the RSI of Spot Silver is presently 36.6.
A bullish investor could look at ANV's 30.0 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), ANV's low point in its 52 week range is $9.12 per share, with $41.02 as the 52 week high point — that compares with a last trade of $9.14. Allied Nevada Gold Corp shares are currently trading down about 3.8% on the day.
According to the ETF Finder at ETF Channel, ANV makes up 1.89% of the SPDR S&P Metals and Mining ETF