NVS Crosses Below Key Moving Average Level Monday, April 18, 11:36 AM ET, by Market News Video Staff In trading on Monday, shares of Novartis AG Basel (NVS) crossed below their 200 day ...
Noteworthy ETF Outflows: JKG, GR, ABC Monday, June 27, 11:46 AM ET, by Market News Video Staff Symbols mentioned in this story: JKG, GR, ABC Exchange traded funds (ETFs) trade just like ...
VPHM Crosses Below Key Moving Average Level Friday, July 29, 1:56 PM ET, by Market News Video Staff In trading on Friday, shares of ViroPharma Inc. (VPHM) crossed below their 200 day moving ...
Bearish Two Hundred Day Moving Average Cross - ABC Monday, August 1, 3:54 PM ET, by Market News Video Staff In trading on Monday, shares of AmerisourceBergen Corp. (ABC) crossed below their 200 day moving ...
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 Friday, shares of Grupo Casa Saba, S.A. de C.V. (NYSE:SAB) entered into oversold territory, hitting an RSI reading of 25.9, after changing hands as low as $7.01 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 56.4. A bullish investor could look at SAB's 25.9 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 SAB shares:
SAB operates in the Drugs & Pharmaceuticals sector, among companies like AmerisourceBergen Corp. (NYSE:ABC) which is off about 0.6% today and has a current RSI reading of 45.6. Below is a three month price history chart comparing the stock performance of SAB, versus ABC.
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