* Tuesday's daily chart is pointing to oversold
conditions as 2017 levels come into play.
The RSI and the Stochastic Oscillator are oversold
and the index is trading below the lower Bollinger Band, hence, a short term recovery cannot be ruled out.
Penn National Gaming is the most oversold
and undervalued stock in the gaming universe, Barclays analyst Felicia Hendrix tells investors in a research note titled, simply, "Underappreciated and Oversold
." With 64% upside potential to her price target of $31, the analyst thinks Penn National should be "on the focus list for deep value long only accounts." The company's "strong" free cash flow, focus on cost cutting and delevering, and "solid" underlying fundamentals should place it high on lists for investors "who have the luxury of time," writes Hendrix.
The accumulated net oversold
position by foreign investors, during the period year to Nov.
The local stock barometer climbed to the 7,200 level on Monday as local investors picked up oversold
stocks even as foreign investors continued to shy away from the local market.
The current rule also imposes a penalty of P30,000 per day, per transaction, whenever a bank is in excess of its oversold
or overbought FX limit.
The rising trend of last four days in line with upward adjustment in the rupee value against dollar suddenly stopped on conflicting reports of slow phutti (seed cotton) arrival and oversold
position of ginners.
However, the gold market is now well oversold
on a near-term technical basis and due for a decent corrective rebound very soon.
The first phase sales of Kawana Golf Residence in December 2017 were oversold
, where from the initial target of selling 6 floors it successfully sold 10 floors.
On a daily basis the DFMGI reached an extreme oversold
reading on the 14-day Relative Strength Index (RSI), an oscillator that measures momentun.
However, there are always opportunities arising from a new idea, asset class or company, or due to an existing asset being oversold
. Investors will need to exercise patience and then have the courage required to decisively deploy funds when opportunities arise."