360° Coverage : BioMarin Pharmaceutical is Now Oversold (BMRN)

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BioMarin Pharmaceutical is Now Oversold (BMRN)

Apr 3 2014, 11:26am CDT | 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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21 weeks ago

BioMarin Pharmaceutical is Now Oversold (BMRN)

Apr 3 2014, 11:26am CDT | 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 BioMarin Pharmaceutical Inc. (NASD: BMRN) entered into oversold territory, hitting an RSI reading of 29.6, after changing hands as low as $65.45 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 63.2. A bullish investor could look at BMRN’s 29.6 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 BMRN shares:

Looking at the chart above, BMRN’s low point in its 52 week range is $53.53 per share, with $84.25 as the 52 week high point — that compares with a last trade of $65.60. Find out what 9 other oversold stocks you need to know about »

According to the ETF Finder at ETFChannel.com, BMRN makes up 4.39% of the First Trust NYSE Arca Biotechnology Index Fund ETF (AMEX: FBT) which is trading lower by about 3.5% on the day Thursday.


Special Offer: Find out what Dave Moenning is holding in the ETF Channel Flexible Growth Investment Portfolio with a special 20% off coupon from Forbes and 30 Days Free.
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12 hours 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 tr ...
Source: Business Times Singapore   Full article at: Business Times Singapore
 

 

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