Concur Technologies Becomes Oversold (CNQR)

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 Concur Technologies Inc (NASD: CNQR) entered into oversold territory, hitting an RSI reading of 28.5, after changing hands as low as $98.81 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 63.2. A bullish investor could look at CNQR’s 28.5 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 CNQR shares:

Looking at the chart above, CNQR’s low point in its 52 week range is $62.01 per share, with $130.39 as the 52 week high point — that compares with a last trade of $98.10. Find out what 9 other oversold stocks you need to know about »

According to the ETF Finder at ETFChannel.com, CNQR makes up 1.28% of the iShares North American Tech-Software ETF (AMEX: IGV) which is trading lower by about 1.4% on the day Thursday.


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

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

Mummy wearing jewellery unearthed in Egypt
London, Nov 23 (IANS) Spanish archaeologists have discovered about 4,000 years old female mummy wearing rare jewellery in Egypt.
 
 
Exercise and fasting could boost brain's functions
Washington, Nov 23 (IANS) Exercise along with occasional fasting is good for boosting the brain's neurons, shows a new research.
 
 
One infant dies in Pakistan hospital
Islamabad, Nov 23 (IANS) One more infant died due to lack of oxygen in an incubator and negligence of the hospital administration in Pakistan, bringing the number of such deaths to 19 in the past five days.
 
 
American whiskey faces challenge in whisky-gulping India
Washington, Nov 23 (IANS) For the most part Indians love things American, but when it comes to their tipple, the world's largest whisky drinkers usually go for Scotch or their very own home-made brands.
 
 
 

Latest from the Network

Australia the team to beat at World Cup: Vaughan
London, Nov 23 (IANS) Former England captain Michael Vaughan Sunday said that having hit upon a rich vein of form against South Africa, Australia have emerged as the front-runners and will be the team to beat at the...
Read more on Sport Balla
 
Taylor Swift to receive Dick Clark Award
Los Angeles, Nov 23 (IANS) Singer Taylor Swift has been named as the first recipient of Dick Clark Award For excellence at 2014 American Music Awards (AMAs). The 24-year-old, who is enjoying a great year with her...
Read more on Celebrity Balla
 
Australia displace India as top ODI team
Dubai, Nov 23 (IANS) Four-time World Champion Australia Sunday returned to the top of the One-Day International (ODI) Team Rankings, displacing India, after defeating South Africa 4-1 in a five-match series, as per the...
Read more on Sport Balla
 
Iraqi court sentences Sunni politician to death
Baghdad, Nov 23 (IANS) An Iraqi court Sunday sentenced a former Sunni lawmaker to death on a criminal charge, an official said. "The Central Criminal Court issued today a verdict of death penalty for the former...
Read more on Politics Balla
 
Amzon Black Friday 2014: $3.99 Blu-ray Movies
Black Friday 2014 Sales events are underway since Friday with the Amazon Black Friday 2014 Deals Week and the Walmart Black Friday Pre Sale. Walmart matched several advertised Black Friday 2014 deals of competitors on...
Read more on Black Friday Countdown
 
Best Buy Black Friday 2014 sale launched with $3.99 Blu-ray Movie
Like Walmart and Amazon, Best Buy kicks off their Black Friday 2014 sale early. You can already buy Best Buy Black Friday deals advertised in the Best Buy Black Friday 2014 ad today online at bestbuy.com. There is no...
Read more on Movie Balla
 
Messi delighted with new La Liga scoring record
Madrid, Nov 23 (IANS) Lionel Messi has made footballing history, scoring a hat-trick against Sevilla which made him the highest scorer in the history of the Spanish La Liga. Messi's 252nd, 253rd and 254th goals...
Read more on Sport Balla
 
Tatum, Carolin to co-direct 'Leonard Peacock'
Los Angeles, Nov 23 (IANS) Actor Channing Tatum and filmmaker Reid Carolin have been roped in by the Weinstein Company to co-direct and produce the film "Leonard Peacock", an adaptation of Matthew Quick's YA book "...
Read more on Celebrity Balla
 
Burdwan blast mastermind's wife held in Dhaka
Dhaka, Nov 23 (IANS) The women's wing chief of the terrorist group Jamaat-ul-Mujahideen Bangladesh (JMB) who confessed to training at least 25 women in West Bengal has been arrested here, the media said Sunday. Fatema...
Read more on Politics Balla
 
Afghan lower house approves US, NATO agreements
Kabul, Nov 23 (IANS) The lower house of Afghanistan's parliament Sunday approved a Bilateral Security Agreement (BSA) with the US and Status of Forces Agreement (SOFA) with NATO. In an extra-ordinary session, attended...
Read more on Politics Balla