FNV Crosses Critical Technical Indicator Friday, November 11, 4:08 PM ET, by Market News Video Staff In trading on Friday, shares of Franco-Nevada Corp (FNV) entered into oversold territory, changing hands ...
G February 2017 Options Begin Trading Monday, December 19, 11:46 AM ET, by Market News Video Staff Investors in Genpact Ltd (G) saw new options become available today, for the February 2017 ...
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 Genpact Ltd (NYSE:G) entered into oversold territory, hitting an RSI reading of 29.6, after changing hands as low as $15.29 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 29.0. A bullish investor could look at G's 29.6 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 G shares:
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