There may be buying opportunities in a few stocks getting hit after making headlines this week. The relative strength indicator, which measures the magnitude and speed of price moves, is a popular metric used to evaluate whether shares are overbought or oversold. A stock with a 14-day RSI below 30 is considered oversold, suggesting that it could be a promising entry point for investors. Those with a 14-day RSI above 70 are considered overbought, signaling a possible selling opportunity. Tesla is nearing the oversold threshold with an RSI slightly above 32. Shares have fallen more than 6% since Monday, putting the electric vehicle maker on pace for its worst week since October. Part of the leg down came on Friday, as investors were spooked by supply chain delays and further price cuts. The company has seen timelines pushed due to the crisis in the Red Sea. Reuters reported late Thursday that the company has plans to suspend most production at its German factory for about two weeks because of the conflict. A decision by rental car company Hertz to sell a sizable portion of its Tesla fleet announced this week also hurt sentiment. Elsewhere, Morgan Stanley noted new discounts in China, while acknowledging that the price cuts were more modest than expected. Tesla shares have fallen more than 11% so far this year, giving up some gains after more than doubling in 2023. The average analyst surveyed by FactSet has a hold rating on the stock and expects shares to rise about 2% over the next year. Boeing also encroached on oversold territory with an RSI around 34 as investors ditched the stock after a door plug blowout during an Alaska Airlines flight last week raised broader industry alarm. Shares are poised to finish the week 12.2% lower, which would be its worst performance since May 2022. The Federal Aviation Administration ordered the temporary grounding of more than 170 Boeing 737 Max 9 aircraft for inspections last weekend. Boeing CEO Dave Calhoun said this week…
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