QCLN Crosses Critical Technical Indicator Wednesday, May 23, 11:00 AM ET, by Market News Video Staff In trading on Wednesday, shares of the First Trust NASDAQ Clean Edge Green Energy Index ...
Cash Dividend On The Way From AVX Corp. (AVX) Tuesday, May 29, 11:28 AM ET, by Market News Video Staff On 5/30/12, AVX Corp. (AVX) will trade ex-dividend, for its quarterly dividend of $0.075, payable ...
MSCC Crosses Above Key Moving Average Level Tuesday, May 29, 11:51 AM ET, by Market News Video Staff In trading on Tuesday, shares of Microsemi Corp. (MSCC) crossed above their 200 day moving ...
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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 Tesla Motors Inc (NASDAQ:TSLA) entered into oversold territory, hitting an RSI reading of 28.8, after changing hands as low as $26.83 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 25.4. A bullish investor could look at TSLA's 28.8 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 TSLA shares:
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