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|GATO Crosses Critical Technical Indicator
Monday, April 12, 11:32 AM ET, by Market News Video Staff
In trading on Monday, shares of Gatos Silver Inc (GATO) entered into oversold territory, changing ...
Gatos Silver Reaches Analyst Target Price
Wednesday, May 12, 7:39 AM ET, by Market News Video Staff
In recent trading, shares of Gatos Silver Inc (GATO) have crossed above the average analyst ...
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Notable Two Hundred Day Moving Average Cross - GATO
Tuesday, August 17, 11:25 AM ET, by Market News Video Staff
In trading on Tuesday, shares of Gatos Silver Inc (GATO) crossed below their 200 day ...
GATO Crosses Critical Technical Indicator
By Metals Channel Staff, Monday, April 12, 11:32 AM ET
In trading on Monday, shares of Gatos Silver Inc (NYSE:GATO) entered into oversold territory, changing hands as low as $9.82 per share. 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.
In the case of Gatos Silver Inc, the RSI reading has hit 29.4 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 48.0, the RSI of Spot Gold is at 48.6, and the RSI of Spot Silver is presently 42.9.
A bullish investor could look at GATO's 29.4 reading as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side.
Looking at a chart of one year performance (below), GATO's low point in its 52 week range is $5.78 per share, with $24 as the 52 week high point — that compares with a last trade of $9.94. Gatos Silver Inc shares are currently trading down about 2.5% on the day.
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