|
Featured MNV Articles:
| BCE is Now Oversold (BCE.CA)By Canada Stock Channel Staff, Tuesday, September 26, 12:40 PM ET
Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In trading on Tuesday, shares of BCE Inc (TSE:BCE.CA) entered into oversold territory, hitting an RSI reading of 27.6, after changing hands as low as $52.31 per share. By comparison, the current RSI reading of the S&P/TSX Composite Index is 33.3. A bullish investor could look at BCE.CA's 27.6 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 BCE.CA shares:
Looking at the chart above, BCE.CA's low point in its 52 week range is $52.31 per share, with $65.66 as the 52 week high point — that compares with a last trade of $52.36. Find out what 9 other oversold stocks you need to know about » Special Offer: Join the income investing conversation on ValueForum.com with a special Seven Days for Seven Dollars invitation.
This Article's Word Cloud:
Buffett
Composite
Days
Dollars
Find
Index
Join
Legendary
Looking
Offer
Relative
Seven
Special
Strength
Tuesday
ValueForum
Warren
about
above
advises
after
analysis
begin
below
bullish
called
changing
chart
compares
comparison
considered
conversation
could
current
entered
fearful
greedy
investor
look
others
oversold
point
reading
share
shares
stock
that
week
when
with
|