|
PARTNER NEWS:
Thu, Apr 18, 8:26 AM, Zacks
Wed, Apr 17, 4:30 PM, Zacks
Featured MNV Articles:
| Main Street Capital Becomes Oversold (MAIN)By Dividend Channel Staff, Monday, September 19, 4:28 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 Monday, shares of Main Street Capital Corporation (NYSE:MAIN) entered into oversold territory, hitting an RSI reading of 29.8, after changing hands as low as $39.31 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 39.6. A bullish investor could look at MAIN'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 MAIN shares:
Looking at the chart above, MAIN's low point in its 52 week range is $34.35 per share, with $47.13 as the 52 week high point — that compares with a last trade of $39.63. Find out what 9 other oversold stocks you need to know about »
Can your brain be trained to become a chart-predicting wizard? Click here to find out
This Article's Word Cloud:
About
Buffett
Capital
Click
Corporation
Find
Index
Know
Legendary
Looking
MAIN
Main
Monday
NYSE
Oversold
Relative
Should
Start
Stocks
Street
Strength
Warren
about
above
advises
after
analysis
become
begin
below
brain
bullish
called
chart
fearful
greedy
investor
look
others
oversold
point
raquo
reading
share
shares
stock
that
week
when
with
|