B&G Foods is Now Oversold (BGS)

Feb 3 2014, 3:57pm 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 Monday, shares of B&G Foods Inc (NYSE: BGS) entered into oversold territory, hitting an RSI reading of 29.98, after changing hands as low as $31.404 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 33.6. A bullish investor could look at BGS’s 29.98 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 BGS shares:

Looking at the chart above, BGS’s low point in its 52 week range is $27.61 per share, with $37.66 as the 52 week high point — that compares with a last trade of $31.53. Find out what 9 other oversold stocks you need to know about »

According to the ETF Finder at ETFChannel.com, BGS makes up 5.36% of the S&P SmallCap Consumer Staples Portfolio ETF (NASD: PSCC) which is trading lower by about 2.3% on the day Monday.


Special Offer: Manage the risks of the markets better with a free 30 day trial to the Strategic Risk Management System.

Source: Forbes Business

 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

Solaire Shines Light On Philippine Casino Ambitions
The Philippines hopes to be the next big thing in Asian gaming, and its biggest step toward that goal just completed its first year of operation. Solaire Resort and Casino opened in March last year (see page 77; payment...
 
 
Innovators In The UK: Male, Affluent And Long-Term Planners
For decades, innovation policy has been the domain of technocrats and of party–political consensus. Whilst in other fields – such as science – regular surveys help inform public debate and policy-making, there has been...
 
 
Want To Earn $5,000? Stop Working
If you work for Amazon, Jeff Bezos will pay you a bonus of up to $5,000.  Generous, right?  And what do you have to do to get the bonus? Quit your job. It may seem crazy, but it’s true – a recent article in Time notes...
 
 
Your Local Mall, Re-digitized
As part of the never-ending battle for the consumer dollar, General Growth Properties, which owns some 120 high-end malls through the U.S., has recruited RetailMeNot to its side. Under a new agreement the two announced...
 
 
 

Latest from the Network

Apple Now Recycling All Apple Gadgets At Retail Stores
Apple has big things in the works for Earth Day, including their most recent announcement that their retail stores will start recycling all of their gadgets. Apple is calling it “free, responsible recycling” that will...
Read more on Apple Balla
 
Solaire Shines Light On Philippine Casino Ambitions
The Philippines hopes to be the next big thing in Asian gaming, and its biggest step toward that goal just completed its first year of operation. Solaire Resort and Casino opened in March last year (see page 77; payment...
Read more on Business Balla
 
Jay Z and Beyonce buy London home?
Jay Z and Beyonce have bought a $9.3 million home in London. The superstar couple have reportedly splashed out on a luxury detached townhouse in west London, having looked for properties in the trendy Mayfair area and...
Read more on Celebrity Balla
 
Aaron Sorkin Gives More Details On Jobs Movie
The upcoming Steve Jobs movie based on the Walter Isaacson biography is still in the works, with Aaron Sorkin in charge of writing the script. Unfortunately, that is almost all that we currently know about the film.He...
Read more on Apple Balla
 
Innovators In The UK: Male, Affluent And Long-Term Planners
For decades, innovation policy has been the domain of technocrats and of party–political consensus. Whilst in other fields – such as science – regular surveys help inform public debate and policy-making, there has been...
Read more on Business Balla
 
Cameron Diaz planning holiday for Gwyneth Paltrow
Cameron Diaz is organizing a girls' holiday to help Gwyneth Paltrow get over her marriage split. The 'Other Woman' actress is keen to cheer up her friend following the end of her 10-year marriage to Chris Martin and is...
Read more on Celebrity Balla
 
Want To Earn $5,000? Stop Working
If you work for Amazon, Jeff Bezos will pay you a bonus of up to $5,000.  Generous, right?  And what do you have to do to get the bonus? Quit your job. It may seem crazy, but it’s true – a recent article in Time notes...
Read more on Business Balla
 
Your Local Mall, Re-digitized
As part of the never-ending battle for the consumer dollar, General Growth Properties, which owns some 120 high-end malls through the U.S., has recruited RetailMeNot to its side. Under a new agreement the two announced...
Read more on Business Balla
 
Jon Hamm slams Justin Bieber
Jon Hamm has branded Justin Bieber a "sh**head." The 'Mad Men' star thinks the 20-year-old singer - who is facing charges for Driving Under the Influence (DUI), resisting arrest and possessing an invalid driver's...
Read more on Celebrity Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla