La-Z-Boy Enters Oversold Territory (LZB)

Feb 20 2014, 3:40pm 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 Thursday, shares of La-Z-Boy Inc. (NYSE: LZB) entered into oversold territory, hitting an RSI reading of 29.7, after changing hands as low as $25.385 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 60.1. A bullish investor could look at LZB’s 29.7 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 LZB shares:

Looking at the chart above, LZB’s low point in its 52 week range is $16.83 per share, with $31.224 as the 52 week high point — that compares with a last trade of $25.46. Find out what 9 other oversold stocks you need to know about »

According to the ETF Finder at ETFChannel.com, LZB makes up 1.53% of the SPDR S&P Homebuilders ETF (AMEX: XHB) which is trading up by about 0.9% on the day Thursday.


Can your brain be trained to become a chart-predicting wizard? Click here to find out

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

Hawkeye Technology Improves Time Clock Reporting and Payroll Integration in TimeClick LE 12
Logan, UT, April 18, 2014 --(PR.com)-- Hawkeye Technology, creator of TimeClick, a leading employee time clock software, announces the release of TimeClick version LE 12. This new version offers powerful new reporting...
 
 
Airbnb Cofounders Are Billionaires As Share Economy Leader Closes $450 Million Round At $10 Billion Valuation
It took a month, but Airbnb’s founders are confirmed as the share economy’s first billionaires, at least on paper. That’s because the home-sharing site has closed its new fundraising round, raising $450 million at a $10...
 
 
`Taxpayers Rely On IRS Guidance At Their Own Peril,' Tax Judge Rules
Before filing your 2013 tax return, did you  consult an Internal Revenue Service publication for clarification of some confusing point? That’s living dangerously. Or so a U.S.  Tax Court Judge declared this week. “...
 
 
Predicting The Most Expensive Games Of The 2014 NFL Schedule
Even at the times of little news during the offseason, the NFL keeps fans in anticipation of what might come next. With less than a month until the NFL Draft, the release of the 2014 NFL schedule is expected sooner. For...
 
 
 

Latest from the Network

Marisa Tomei is too old to play Lady Gaga?
Marisa Tomei thinks she's too old to play Lady Gaga in a movie. The 'The Wrestler' actress was flattered to hear the 'Applause' hitmaker would like her to play the 28-year-old singer if there is ever a film made about...
Read more on Celebrity Balla
 
Hawkeye Technology Improves Time Clock Reporting and Payroll Integration in TimeClick LE 12
Logan, UT, April 18, 2014 --(PR.com)-- Hawkeye Technology, creator of TimeClick, a leading employee time clock software, announces the release of TimeClick version LE 12. This new version offers powerful new reporting...
Read more on Business Balla
 
Airbnb Cofounders Are Billionaires As Share Economy Leader Closes $450 Million Round At $10 Billion Valuation
It took a month, but Airbnb’s founders are confirmed as the share economy’s first billionaires, at least on paper. That’s because the home-sharing site has closed its new fundraising round, raising $450 million at a $10...
Read more on Business Balla
 
`Taxpayers Rely On IRS Guidance At Their Own Peril,' Tax Judge Rules
Before filing your 2013 tax return, did you  consult an Internal Revenue Service publication for clarification of some confusing point? That’s living dangerously. Or so a U.S.  Tax Court Judge declared this week. “...
Read more on Business Balla
 
Predicting The Most Expensive Games Of The 2014 NFL Schedule
Even at the times of little news during the offseason, the NFL keeps fans in anticipation of what might come next. With less than a month until the NFL Draft, the release of the 2014 NFL schedule is expected sooner. For...
Read more on Business Balla
 
How The Wealthiest Families Make And Lose Their Money -- Part 5
In this series of articles on wealth creation and maintenance, we have hit on a few key findings of researchers and practitioners.  The vast majority of family wealth stems from business ownership and not inheritance. ...
Read more on Business Balla
 
Can High-Speed Internet Spark Better-Paying Jobs?
Many of us look at high-speed internet as a way to enjoy pleasures like clearer HDTV and speedier Wi-Fi. But as lightening-fast service gets rolled out in new markets, it could also pave the way to innovation–and new...
Read more on Business Balla
 
For NHL and NBA Playoffs, Parking, Like Tickets, Also Have A Premium
When the Nets and Raptors tip off tomorrow afternoon, the NBA playoffs will be underway.  Along with the NHL playoffs, many think the next two months are the most exciting in all of sports. Over the course of the next...
Read more on Business Balla
 
The Week Ahead: A Spring Breakout for the Economy?
Just a week ago the stock market was looking quite vulnerable as most of the major averages closed near their lows last Friday, April 11. There were signs of heavy selling, so I concluded last week that “On a short-term...
Read more on Business Balla
 
Which Teams Did The Best And Worst Job Of Pricing Tickets For The NHL Playoffs?
The Bruins have a long history of success with six Stanley Cups championships, most recently in 2010-11.  Heading into the 2014 NHL Playoffs, the Boston Bruinsare favored by Las Vegas to win their seventh.  While that’s...
Read more on Business Balla
 
 
Auto Balla Sexy Balla Sport Balla TV Balla Politics Balla Movie Balla Apple Balla Business Balla Ad Balla Celebrity Balla