In trading on Friday, shares of Papa John’s International, Inc. (Symbol: PZZA) entered into oversold territory, hitting an RSI reading of 29.1, after changing hands as low as $44.53 per share. By comparison, the current RSI reading of the S&P 500 ETF ( SPY ) is 65.2. A bullish investor could look at PZZA’s 29.1 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of PZZA shares:
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Papa John’s Enters Oversold Territory ($PZZA)
