Alderon Iron Ore Oversold

Forbes reported Alderon Iron Ore Corp (NYSE:AXX) entered into oversold territory, changing hands as low as $2.45 per share.

As quoted in the market news:

We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

Click here to read the full Forbes report.