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Just been looking at the charts and noticed MHK (Mohawk Industries) just dipped into oversold territory on Thursday - RSI hit 27.8, which is pretty interesting from a trading side perspective. Stock touched $108.36 during the session.
For context, anything below 30 on the RSI usually signals oversold conditions. That Buffett quote about being greedy when others are fearful comes to mind here. If you've been watching this side of the market, you know what that typically means - could be worth keeping an eye on for potential entry points.
The 52-week range shows Mohawk bouncing between $96.24 and $143.13, so at $108.70 the stock isn't exactly at rock bottom. For comparison, SPY's RSI is sitting at 43.5, so there's definitely more selling pressure on MHK right now.
Chart's showing a pretty clear dip. Could just be the selling momentum finally running out of steam. Worth monitoring if you're looking for opportunities on the buy side.