Published on 17 Nov 2022 on Zacks via Yahoo Finance
Down 21.5% in 4 Weeks, Here's Why AppHarvest, Inc. (APPH) Looks Ripe for a Turnaround
AppHarvest, Inc. (APPH) has been on a downward spiral lately with significant selling pressure. After declining 21.5% over the past four weeks, the stock looks well positioned for a trend reversal as it is now in oversold territory and there is strong agreement among Wall Street analysts that the company will report better earnings than they predicted earlier.
How to Determine if a Stock is Oversold
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.