JBI Crosses Critical Technical Indicator

In trading on Wednesday, shares of Janus International Group Inc (Symbol: JBI) entered into oversold territory, changing hands as low as $9.015 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 Janus International Group Inc, the RSI reading has hit 29.2 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 52.9, the RSI of Spot Gold is at 17.4, and the RSI of Spot Silver is presently 25.7. A bullish investor could look at JBI's 29.