Cepheid (CPHD) Shares Cross Below 200 DMA Monday, April 8, 4:32 PM ET, by Market News Video Staff In trading on Monday, shares of Cepheid (CPHD) crossed below their 200 day moving average ...
EXEL Crosses Above Key Moving Average Level Thursday, April 11, 11:34 AM ET, by Market News Video Staff In trading on Thursday, shares of Exelixis Inc (EXEL) crossed above their 200 day moving ...
Land INFI Even Cheaper Than Its Secondary? Monday, April 15, 3:35 PM ET, by Market News Video Staff Looking back to 4 days ago, Infinity Pharmaceuticals Inc (INFI) priced a 10,000,000 share secondary ...
Oversold Conditions For Dendreon Corp (DNDN) Thursday, April 18, 4:29 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
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 Wednesday, shares of Exelixis Inc (NASDAQ:EXEL) entered into oversold territory, hitting an RSI reading of 29.1, after changing hands as low as $4.09 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 43.4. A bullish investor could look at EXEL's 29.1 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 EXEL shares:
According to the ETF Finder at ETF Channel, EXEL makes up 1.47% of the SPDR S&P Biotech ETF (AMEX:XBI) which is trading lower by about 1.3% on the day Wednesday.
EXEL operates in the Biotechnology sector, among companies like Dynavax Technologies Corp (NASDAQ:DVAX) which is down about 2.2% today and has a current RSI reading of 47.9. Below is a three month price history chart comparing the stock performance of EXEL, versus DVAX.
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