ShoreTel Looking to Recover Now that It Is Oversold, Can It?

shortel-nasdaq-oversold

There is now some hope and optimism that ShoreTel (SHOR) . Over the last 60 days it has been on an upward trend.

The reason is that ShoreTel’s RSI reading is 28.49. What is RSI?

According to NASDAQ.com

RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.

 

SHORETEL-rsi-marketvolume_
Source: http://www.marketvolume.com

 

That alone would suggest that there is light at the end of that tunnel. But couple that with a #1 Zack Rank and now things are starting to look much more positive for SHOR

If this wasn’t enough, ShoreTel also has a Zacks Rank #1 (Strong Buy) which puts it into rare company among its peers. So, given all of these factors, investors may want to consider getting in on this stock now (or holding on), as there are some favorable trends that could bubble up for this stock before long.

Source: ShoreTel (SHOR) is Oversold: Can It Recover?

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