BAK Crosses Above Key Moving Average Level Friday, March 1, 4:27 PM ET, by Market News Video Staff In trading on Friday, shares of Braskem S A (BAK) crossed above their 200 day ...
Relative Strength Alert For Braskem Thursday, May 9, 4:14 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
Relative Strength Alert For Braskem Wednesday, June 12, 12:05 PM ET, by Market News Video Staff Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy ...
Braskem Enters Oversold Territory (BAK)
By Market News Video Staff, Wednesday, November 27, 4:48 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 Wednesday, shares of Braskem S A (NYSE:BAK) entered into oversold territory, hitting an RSI reading of 27.4, after changing hands as low as $4.9299 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 60.2. A bullish investor could look at BAK's 27.4 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 BAK shares:
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