ACAD December 3rd Options Begin Trading Thursday, October 21, 1:25 PM ET, by Market News Video Staff Investors in Acadia Pharmaceuticals Inc (ACAD) saw new options become available today, for the December ...
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.
In trading on Thursday, shares of Acadia Pharmaceuticals Inc (NASDAQ:ACAD) entered into oversold territory, hitting an RSI reading of 29.9, after changing hands as low as $15.705 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 47.8. A bullish investor could look at ACAD's 29.9 RSI reading today 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. The chart below shows the one year performance of ACAD shares:
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