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Impinj Inc Shares Enter Oversold Territory Amid Selling Pressure

Impinj Inc (PI) has entered oversold levels with an RSI of 28.4, indicating potential buying opportunities as investor sentiment shifts. The stock's current price is $93.75, near its 52-week low.

Date: 
AI Rating:   6

Technical Analysis and Stock Performance
Impinj Inc's stock has shown significant selling pressure, as evidenced by its Relative Strength Index (RSI) hitting 28.4—indicating oversold conditions. This level suggests that the momentum of the selling may be exhausting, potentially signaling a buying opportunity for investors. The last trade of PI shares was at $93.75, compared to a 52-week low of $89.425 and a high of $239.88.

The current RSI level is substantially lower than that of the S&P 500 ETF (47.4), which indicates broader market strength compared to Impinj's current performance. Investors who are bullish may view this oversold situation as a critical point to enter the market.