BanColombia Reaches Analyst Target Price Tuesday, August 1, 8:31 AM ET, by Market News Video Staff In recent trading, shares of BanColombia SA (CIB) have crossed above the average analyst 12-month ...
BanColombia (CIB) Shares Cross Below 200 DMA Tuesday, August 15, 4:04 PM ET, by Market News Video Staff In trading on Tuesday, shares of BanColombia SA (CIB) crossed below their 200 day moving ...
BanColombia is Now Oversold (CIB) Tuesday, September 5, 4:08 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
BanColombia Becomes Oversold (CIB)
By Market News Video Staff, Thursday, March 25, 11:57 AM 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 Thursday, shares of BanColombia SA (NYSE:CIB) entered into oversold territory, hitting an RSI reading of 28.2, after changing hands as low as $32.27 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 44.7. A bullish investor could look at CIB'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 CIB shares:
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