Analogic Reaches Analyst Target Price Friday, September 29, 8:39 AM ET, by Market News Video Staff In recent trading, shares of Analogic Corp (ALOG) have crossed above the average analyst 12-month ...
Analogic Reaches Analyst Target Price Wednesday, November 22, 9:18 AM ET, by Market News Video Staff In recent trading, shares of Analogic Corp (ALOG) have crossed above the average analyst 12-month ...
Analogic Corp Becomes Oversold (ALOG)
By Market News Video Staff, Friday, December 7, 12:00 PM ET
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 Analogic Corp (NASDAQ:ALOG) entered into oversold territory, hitting an RSI reading of 27.3, after changing hands as low as $67.6101 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 54.4. A bullish investor could look at ALOG's 27.3 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 ALOG shares:
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