Latest News


Keyword Search

RegionB

North / South America

Vulcan Materials shares "oversold" on Monday's trading

Apr, 10 2012


In trading on Monday, shares of Vulcan Materials Co (NYSE: VMC) entered into oversold territory, changing hands as low as $41.66 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 Vulcan Materials Co , the RSI reading has hit 30.0 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 37.8, the RSI of Spot Gold is at 36.8, and the RSI of Spot Silver is presently 40.7.

A bullish investor could look at VMC’s 30.0 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), VMC’s low point in its 52 week range is $25.06 per share, with $48.09 as the 52 week high point — that compares with a last trade of $41.90. Vulcan Materials Co shares are currently trading off about 1.4% on the day.





SOURCE: www.forbes.com

Bookmark and Share
Comments
0 Comment(s)
Add Your Comments


UltraTech’s annual profit down

India: UltraTech Cement, part of the Aditya Birla Group, has announced that its net profit declined year-on-year by 19% to US$351m in 2013-2014. This marks the company's first fall in profit for five years and was attributed to rising input costs and sluggish sales. More

Construction on 200 UK infrastructure projects due to commence

The UK’s Prime Minister, David Cameron, and the Chancellor of the Exchequer, George Osborne, visited a transport infrastructure project this week where they outlined upcoming infrastructure investment. More

Advertise Here