Follow us on Twitter      

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


Sika buys Addiment Italia from Buzzi Unicem

Sika has acquired the remaining shares of the Italian-based Addiment Italia from its joint venture partner Buzzi Unicem. More

OSHA issues high heat advice for for Sacramento Valley

OSHA urges all employers, particularly those in the Sacramento Valley and adjacent foothills, to protect outdoor workers from heat illness. More

Advertise Here