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AUQ Stock Crowded With Sellers

By Metals Channel Staff, Tuesday, July 17, 11:36 AM ET
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In trading on Tuesday, shares of AuRico Gold Inc (NYSE:AUQ) entered into oversold territory, changing hands as low as $6.23 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In the case of AuRico Gold Inc, the RSI reading has hit 28.8 by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 47.6, the RSI of Spot Gold is at 49.9, and the RSI of Spot Silver is presently 46.5.

A bullish investor could look at AUQ's 28.8 reading 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.

Looking at a chart of one year performance (below), AUQ's low point in its 52 week range is $6.23 per share, with $14.17 as the 52 week high point that compares with a last trade of $6.31. AuRico Gold Inc shares are currently trading down about 16.3% on the day.

AuRico Gold Inc 1 Year Performance Chart

According to the ETF Finder at ETF Channel, AUQ makes up 1.11% of the Gold Miners ETF (AMEX:GDX) which is trading lower by about 2.4% on the day Tuesday.

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This Article's Word Cloud:   AMEX   According   AuRico   Average   Channel   Definition   ETFs   Earnings   Gold   Index   Industrial   Metals   Relative   Silver   Small   Spot   Strength   Tuesday   about   analysis   below   comparison   currently   hands   heavy   look   mining   missing   momentum   opportunities   other   oversold   point   range   reading   recent   scale   share   shares   slideshow   stocks   territory   that   trading   week   what   which   with   year   zero

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