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|ArcelorMittal Stock Getting Very Oversold
Wednesday, December 10, 4:09 PM ET, by Market News Video Staff
In trading on Wednesday, shares of ArcelorMittal SA (MT) entered into oversold territory, changing hands ...
RIO Stock Crowded With Sellers
Thursday, December 11, 4:06 PM ET, by Market News Video Staff
In trading on Thursday, shares of Rio Tinto plc (RIO) entered into oversold territory, changing ...
PKX Stock Crowded With Sellers
Friday, December 12, 11:38 AM ET, by Market News Video Staff
In trading on Friday, shares of POSCO (PKX) entered into oversold territory, changing hands as ...
RSI Alert: Reliance Steel & Aluminum Now Oversold
Friday, December 12, 11:44 AM ET, by Market News Video Staff
The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, ...
Sesa Sterlite Stock Getting Very Oversold
Monday, December 15, 11:49 AM ET, by Market News Video Staff
In trading on Monday, shares of Sesa Sterlite Ltd (SSLT) entered into oversold territory, changing ...
POSCO Stock Getting Very Oversold
By Metals Channel Staff, Monday, March 4, 11:35 AM ET
In trading on Monday, shares of POSCO (NYSE:PKX) entered into oversold territory, changing hands as low as $77.60 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 POSCO , the RSI reading has hit 28.4 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 37.3, the RSI of Spot Gold is at 32.9, and the RSI of Spot Silver is presently 32.0.
A bullish investor could look at PKX's 28.4 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), PKX's low point in its 52 week range is $71.32 per share, with $95.27 as the 52 week high point — that compares with a last trade of $77.66. POSCO shares are currently trading down about 3.4% on the day.
According to the ETF Finder at ETF Channel, PKX makes up 7.92% of the Steel ETF (AMEX:SLX) which is trading relatively unchanged on the day Monday.
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