43 days ago • Posted by William Ramstein

Wayfair entered oversold territory

Shares of Wayfair entered into oversold territory, hitting an RSI reading of 28.5, after changing hands as low as $268.65 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 54.4. A bullish investor could look at W's 28.5 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.

Source: Forbes