All I can say is that BKE has piled a heap of cash back and EPS continues to go up. I think things will get pretty interesting in a couple weeks with Q4 earnings looming. I would not want to be holding a short position on March 11th.
I'm not sure it is that oversold - the RSI is fairly neutral and the bollingers have a relatively wide spread. I think what's probably more correct to say is that BKE is undervalued with respect value-based investing principles.