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Brocade Communications Systems, Inc. Enters Oversold Territory (BRCD)

By Market News Video Staff, Wednesday, April 3, 4:25 PM ET
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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 Wednesday, shares of Brocade Communications Systems, Inc. (NASDAQ:BRCD) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $5.50 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 52.6. A bullish investor could look at BRCD's 29.8 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 BRCD shares:

Brocade Communications Systems, Inc. 1 Year Performance Chart

Looking at the chart above, BRCD's low point in its 52 week range is $4.18 per share, with $6.44 as the 52 week high point that compares with a last trade of $5.51. Find out what 9 other oversold stocks you need to know about

According to the ETF Finder at ETF Channel, BRCD makes up 3.81% of the iShares S&P North American Technology-Multimedia Networking Index Fund ETF (AMEX:IGN) which is trading lower by about 0.8% on the day Wednesday.

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This Article's Word Cloud:   American   BRCD   Buffett   Channel   Definition   ETFs   Earnings   Find   Fund   Index   Investment   Know   Networking   Oversold   Relative   Strength   Warren   Wednesday   What   about   above   analysis   below   bullish   chart   considered   entered   fearful   greedy   investor   look   opportunities   other   others   oversold   point   reading   selling   share   shares   stock   stocks   that   through   trading   week   what   when   which   with
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Brocade Communications Systems, Inc. Enters Oversold Territory (BRCD) | Market News Video | Copyright © 2008 - 2014, All Rights Reserved

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