Published on 5 Dec 2022 on Zacks via Yahoo Finance
AppHarvest, Inc. (APPH) Loses 55.6% in 4 Weeks, Here's Why a Trend Reversal May be Around the Corner
A downtrend has been apparent in AppHarvest, Inc. (APPH) lately with too much selling pressure. The stock has declined 55.6% 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.
Guide to Identifying 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.