360° Coverage : Synnex Enters Oversold Territory (SNX)

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Synnex Enters Oversold Territory (SNX)

Jan 10 2014, 12:17pm CST | by

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...

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35 weeks ago

Synnex Enters Oversold Territory (SNX)

Jan 10 2014, 12:17pm CST | by

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 Synnex Corp (NYSE: SNX) entered into oversold territory, hitting an RSI reading of 25.2, after changing hands as low as $56.0605 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 58.3. A bullish investor could look at SNX’s 25.2 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 SNX shares:

Looking at the chart above, SNX’s low point in its 52 week range is $32.04 per share, with $68.71 as the 52 week high point — that compares with a last trade of $58.02. Find out what 9 other oversold stocks you need to know about »

According to the ETF Finder at ETFChannel.com, SNX makes up 1.24% of the S&P SmallCap Information Technology Portfolio ETF (NASD: PSCT) which is trading lower by about 0.4% on the day Friday.


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Source: Forbes Business

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Update
2

2 weeks ago

Khazanah throws MAS RM6b lifeline

Aug 29 2014 5:01pm CDT | Source: Business Times Singapore

August 30, 2014 1:15 AMKHAZANAH Nasional will inject RM6 billion (SS$2.4 billion) over three years to resuscitate loss-making Malaysia Airlines (MAS) under a recovery plan that includes even an Act of Parliament. Other key moves are migrating its operations, assets and liabilities to a new ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 
Update
1

2 weeks ago

MAS posts loss of RM307m for Q2

Aug 28 2014 5:00pm CDT | Source: Business Times Singapore

August 29, 2014 1:13 AMMALAYSIA Airlines (MAS) registered a loss of RM307 million (S$122 million) for the second quarter to end-June, but warned of worse to come in the second half when the "full financial impact of the double tragedies of MH370 and ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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