Any investor looking for a bargain might have a natural home in Burlington Stores Inc. (NYSE: BURL), the off-price retailer whose whole appeal rests on selling brand-name goods for less. There’s a certain irony in the fact that its own shares have been selling off heavily in recent weeks, and are currently down more than 30% from the all-time high they set in July.
The sell-off has pushed one of the stock’s technical momentum indicators to an extreme. Burlington’s relative strength index (RSI) has sunk to around 17, its lowest reading in several years. For context, the last time it was this washed out was during the COVID-era market crash, and, interestingly, from those depths the shares went on to rally a remarkable 230%.
