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|CMC Makes Bullish Cross Above Critical Moving Average
Tuesday, March 1, 11:05 AM ET, by Market News Video Staff
In trading on Tuesday, shares of Commercial Metals Co. (CMC) crossed above their 200 day ...
Steel Dynamics (STLD) Shares Cross Above 200 DMA
Tuesday, March 1, 11:48 AM ET, by Market News Video Staff
In trading on Tuesday, shares of Steel Dynamics Inc. (STLD) crossed above their 200 day ...
VALE Makes Bullish Cross Above Critical Moving Average
Friday, March 4, 11:24 AM ET, by Market News Video Staff
In trading on Friday, shares of Vale S.A. (VALE) crossed above their 200 day moving ...
CMC Dividend Yield Pushes Above 3%
Tuesday, March 8, 3:10 PM ET, by Market News Video Staff
In trading on Tuesday, shares of Commercial Metals Co. (CMC) were yielding above the 3% ...
TS Makes Bullish Cross Above Critical Moving Average
Wednesday, March 30, 11:24 AM ET, by Market News Video Staff
In trading on Wednesday, shares of Tenaris SA (TS) crossed above their 200 day moving ...
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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