Published on 28 Dec 2022 on Zacks via Yahoo Finance
After Plunging -30.6% in 4 Weeks, Here's Why the Trend Might Reverse for Citius Pharmaceuticals, Inc...
A downtrend has been apparent in Citius Pharmaceuticals, Inc. (CTXR) lately with too much selling pressure. The stock has declined 30.6% over the past four weeks. However, given the fact that it is now in oversold territory and Wall Street analysts are majorly in agreement about the company's ability to report better earnings than they predicted earlier, the stock could be due for a turnaround.
Here is How to Spot Oversold Stocks
We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements.