China’s Cheetah Breaches Oversold Level After 18% Slump: Chart

A plunge in Cheetah Mobile Inc. that drove the Chinese security software maker to the lowest since its 2014 debut has pushed a technical indicator below a level that frequently precedes a rebound. The stock’s 14-day relative strength index dipped below 30 on Thursday as the shares plunged 18 percent after its sales guidance trailed analysts’ forecasts. The company said second-quarter revenue will be as much as $155 million, below the average estimates of $196 million.

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