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|Shares of GGB Now Oversold
Tuesday, November 18, 11:40 AM ET, by Market News Video Staff
In trading on Tuesday, shares of Gerdau S.A. (GGB) entered into oversold territory, changing hands ...
Notable Two Hundred Day Moving Average Cross - X
Monday, December 8, 3:59 PM ET, by Market News Video Staff
In trading on Monday, shares of United States Steel Corp. (X) crossed below their 200 ...
Shares of VALE Now Oversold
Monday, December 8, 4:13 PM ET, by Market News Video Staff
In trading on Monday, shares of Vale S.A. (VALE) entered into oversold territory, changing hands ...
Shares of SLX Now Oversold
Wednesday, December 10, 11:02 AM ET, by Market News Video Staff
In trading on Wednesday, shares of the Steel ETF (SLX) entered into oversold territory, changing ...
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 ...
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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