Just noticed something interesting in the charts today. Mohawk Industries stock (MHK) just dipped into oversold territory with an RSI reading of 27.8 - that's below the 30 threshold that usually signals heavy selling might be running out of steam. The stock hit lows around $108 per share in trading.

For context, RSI is basically a momentum indicator that goes from 0 to 100. When it drops below 30, it typically means a lot of panic selling has been happening and could be near exhaustion. Compare that to the S&P 500 (SPY) sitting at 43.5 - so MHK is getting hit way harder than the broader market.

Looking at the bigger picture, Mohawk's 52-week range is $96.24 to $143.13, so we're closer to the lower end right now at $108.70. If you follow that Warren Buffett logic of being greedy when others are fearful, this could be worth watching as a potential entry point. The oversold RSI reading suggests the recent selling pressure might finally be exhausting itself, which could set up an interesting opportunity for bullish traders.