PTR Crosses Above Key Moving Average Level Tuesday, May 15, 11:06 AM ET, by Market News Video Staff In trading on Tuesday, shares of PetroChina Co Ltd (PTR) crossed above their 200 day ...
HDFC Bank Ltd Enters Oversold Territory (HDB) Wednesday, May 16, 12:26 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
Infosys Ltd. Enters Oversold Territory (INFY) Friday, May 25, 11:54 AM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
Banco Macro S.A. Becomes Oversold (BMA) Friday, May 25, 12:08 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 Monday, shares of HDFC Bank Ltd (NYSE:HDB) entered into oversold territory, hitting an RSI reading of 28.2, after changing hands as low as $24.47 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 45.8. A bullish investor could look at HDB's 28.2 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 HDB shares:
HDB operates in the Banking & Savings sector, among companies like Banco Macro S.A. (NYSE:BMA) which is off about 3.1% today and has a current RSI reading of 44.4. Below is a three month price history chart comparing the stock performance of HDB, versus BMA.
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