Adobe Is Now Oversold

Technical Analysis - Warren Buffett advises to be fearful when others are greedy and greedy when others are fearful [1] - The Relative Strength Index (RSI) measures momentum on a scale of zero to 100, with a stock considered oversold if the RSI reading falls below 30 [1] Adobe (ADBE) Stock Performance - Adobe shares entered oversold territory with an RSI reading of 29.4 on Monday [3] - The stock traded as low as $438.57 per share, compared to its 52-week low of$432.47 and high of $638.25 [3] - The last trade price was$442.73 [3] - The current RSI reading of the S&P 500 ETF (SPY) is 40.9 [3] Investment Opportunity - A bullish investor could view Adobe's 29.4 RSI reading as a sign that recent heavy selling is exhausting itself, potentially indicating a buy-side entry point [3]