Oversold Conditions For Honda Motor (HMC)

Feb 26 2014, 3:34pm CST | by

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In trading on Wednesday, shares of Honda Motor Co., Ltd. (NYSE: HMC) entered into oversold territory, hitting an RSI reading of 29.3, after changing hands as low as $35.95 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 58.3. A bullish investor could look at HMC’s 29.3 RSI reading today 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. The chart below shows the one year performance of HMC shares:

Looking at the chart above, HMC’s low point in its 52 week range is $35.15 per share, with $42.96 as the 52 week high point — that compares with a last trade of $36.06. Find out what 9 other oversold stocks you need to know about »

According to the ETF Finder at ETFChannel.com, HMC makes up 5.02% of the BLDRS Asia 50 ADR Index Fund ETF (NASD: ADRA) which is trading relatively unchanged on the day Wednesday.


Can your brain be trained to become a chart-predicting wizard? Click here to find out

Source: Forbes Auto

/>/>
 
 

Don't miss ...

 

<a href="/latest_stories/all/all/30" rel="author">Forbes</a>
Forbes is among the most trusted resources for the world's business and investment leaders, providing them the uncompromising commentary, concise analysis, relevant tools and real-time reporting they need to succeed at work, profit from investing and have fun with the rewards of winning.

 

blog comments powered by Disqus

Latest stories

IPad Air Giveaway 2014 is Online
IPad Air Giveaway 2014 is Online
Our sister site I4U News is giving away a brand new iPad Air or if you can wait an iPad Air 2. This is an $499 value.
 
 
Your Parent Or Kid Moved In: Are You Covered?
A record 57 million Americans now live in multigenerational family households — double the number in 1980, according to a new Pew Research Center study. And I bet many of them have the wrong homeowner’s or renters...
 
 
Pandora Looks to Challenge Terrestrial Radio's Dominance in Cars
Pandora Media is one of the largest Internet radio providers in the U.S. with more than 75 million active users. While the company’s active user count has increased at a robust pace historically, it is likely to slow...
 
 
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
Are General Manager Salaries About To Skyrocket? Will There Be A Front Office Salary Cap?
It’s January 2026. New York Yankees owner Hal Steinbrenner gets out of his driverless car and triumphantly marches before the gathered press to introduce his prized new free agent. It’s a record-breaking contract—over...
 
 
 

Latest from the Network

Kim Kardashian West set to quit reality TV
Kim Kardashian West is set to quit reality TV. The 'Keeping Up with the Kardashians' star is said to be ''coming around'' to Kanye West's way of thinking, and while her husband would ''never'' force her, she is...
Read more on Celebrity Balla
 
Want to have 100 kids: Adam Levine
Los Angeles, Aug 31 (IANS) Singer Adam Levine says his recent marriage to supermodel Behati Prinsloo has changed him forever. He also plans to start a family soon. During an interview with Ryan Seacrest, the Maroon 5...
Read more on Celebrity Balla
 
British secret service aided Nepal in torture of rebels: Book
London, Aug 31 (IANS) Thomas Bell, a journalist who writes on Nepal for The Economist and other publications, has in his new book, "Kathmandu", accused British secret service MI6 of aiding Nepal authorities in the...
Read more on Celebrity Balla
 
Early Arctic inhabitants lived without sex, says study
London, Aug 31 (IANS) As the scientific community dwells over the possibility that Neanderthals had sex with humans, an Indian-origin researcher has found that the earliest Arctic inhabitants lived in complete sexual...
Read more on Apple Balla
 
Chloe Grace Moretz's love life inspires film roles
Chloe Grace Moretz's love life inspires her movie roles. The 17-year-old actress - who is dating Brooklyn Beckham - says she often taps into her own romantic life to draw inspiration for her various characters. Speaking...
Read more on Movie Balla
 
Indian-Americans pay a price for running convenience stores (Diaspora Feature)
Washington, Aug 31 (IANS) Back in 2006, Joe Biden, then a Senate candidate ran into trouble for a remark that "you cannot go to a 7-Eleven or a Dunkin' Donuts unless you have a slight Indian accent." Gaffe-prone Biden...
Read more on Politics Balla
 
Aaron Paul enjoying 'lighter' role
Aaron Paul is enjoying starring in a ''lighter'' show after 'Breaking Bad'. The 34-year-old star played meth manufacturer Jesse Pinkman in the US drama series for five years and while he is pleased to be lending his...
Read more on Celebrity Balla
 
Self-critical Ariana Grande
Ariana Grande says she's too critical of her appearance. The 21-year-old beauty insists that although she's an international pop star, she still feels the same pressure to look good as other young women and is trying...
Read more on Celebrity Balla
 
Lily Allen's husband doesn't mind marriage songs
Lily Allen says her husband is comfortable with her discussing intimate details of their personal life. The London-born singer is preparing to hit the road with material from her new album 'Sheezus' and Lily insists her...
Read more on Celebrity Balla
 
Abe glad Modi visited Kyoto
Kyoto, Aug 31 (IANS) Japan Prime Minister Shinzo Abe Sunday said he was happy his Indian counterpart Narendra Modi toured the country's ancient capital Kyoto. "I am very glad that Modi enjoyed the cultural heritage of...
Read more on Politics Balla