Forbes reports that based on the Relative Strength Index (RSI), Potash Corp of Saskatchewan Inc. is looking oversold.
As quoted in the market news:
“In trading on Tuesday, shares of Potash Corp. of Saskatchewan Inc. (TSX:POT) entered into oversold territory, hitting an RSI reading of 28.8, after changing hands as low as $40.27 per share. By comparison, the current RSI reading of the S&P/TSX Composite Index is 65.1.”
In the past year, potash prices dropped to a new low. Could this be the perfect buying opportunity?
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