LEAP Crosses Below Key Price/Book Valuation Level Tuesday, January 15, 1:50 PM ET, by Market News Video Staff In trading on Tuesday, shares of Leap Wireless International Inc (LEAP) crossed below their last ...
FFIV Crosses Above Key Moving Average Level Thursday, January 24, 12:39 PM ET, by Market News Video Staff In trading on Thursday, shares of F5 Networks, Inc. (FFIV) crossed above their 200 day ...
SPDR S&P Telecom (XTL) Enters Oversold Territory Thursday, February 21, 4:03 PM ET, by Market News Video Staff In trading on Thursday, shares of the SPDR S&P Telecom ETF (XTL) entered into oversold ...
F5 Networks, Inc. (FFIV) Shares Cross Below 200 DMA Thursday, February 21, 4:48 PM ET, by Market News Video Staff In trading on Thursday, shares of F5 Networks, Inc. (FFIV) crossed below their 200 day ...
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 Monday, shares of Emulex Corporation (NYSE:ELX) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $6.84 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 45.8. A bullish investor could look at ELX's 29.8 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 ELX shares:
ELX operates in the Computer Peripherals sector, among companies like F5 Networks, Inc. (NASDAQ:FFIV) which is down about 0.5% today and has a current RSI reading of 44.6. Below is a three month price history chart comparing the stock performance of ELX, versus FFIV.
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