Morning Stoney! Will post the little stocks I’ve been watching take out highs. I need to figure out what to do with my Amzn 2024 calls, they implode! Is the September gain/loss selling or just a weak month?
Isn't AMZN about to start running commercials on Prime? // That should make up for any rev shortfall.
I am no fan of Pelosi or Feinstein. Mitch the Turtle, Father Time Chuck Grassley and Orin Hatch(Deceased) are no Warren Buffet, Munger or the late Sir Templeton at wisdom. Feinstein is being propped up with Mitch.
GBA BUY OF THE DAY ( I THINK) IS CMC--- $49 IS A DOUBLE BOTTOM IF NOT TRIPLE BOTTOM. IT IS ON WATCH AND SHOWS UPWARD BIAS THIS AM THAT I DO NOT BELIEVE-- Commercial Metals Company (CMC) NYSE - NYSE Delayed Price. 49.75+0.48(+0.97%) At close: September 22 04:00PM EDT 52.00+2.25(+4.52%)<-----SPOOF? Pre-Market:8:00AM EDT
Commercial Metals(CMC) has been beaten down lately with too much selling pressure. While the stock has lost 8.8% over the past four weeks, there is light at the end of the tunnel as it is now in oversold territory and Wall Street analysts expect the company to report better earnings than they predicted earlier. Here is How to Spot Oversold Stocks We use Relative Strength Index (RSI), one of the most commonly used technical indicators, for spotting whether a stock is oversold. This is a momentum oscillator that measures the speed and change of price movements. RSI oscillates between zero and 100. Usually, a stock is considered oversold when its RSI reading falls below 30. Technically, every stock oscillates between being overbought and oversold irrespective of the quality of their fundamentals. And the beauty of RSI is that it helps you quickly and easily check if a stock's price is reaching a point of reversal. So, by this measure, if a stock has gotten too far below its fair value just because of unwarranted selling pressure, investors may start looking for entry opportunities in the stock for benefitting from the inevitable rebound. However, like every investing tool, RSI has its limitations, and should not be used alone for making an investment decision. Here's Why CMC Could Experience a Turnaround The heavy selling of CMC shares appears to be in the process of exhausting itself, as indicated by its RSI reading of 27.85. So, the trend for the stock could reverse soon for reaching the old equilibrium of supply and demand. This technical indicator is not the only factor that calls for a potential rebound for the stock. There is a fundamental indicator as well. A strong agreement among sell-side analysts covering CMC in raising earnings estimates for the current year has led to an increase in the consensus EPS estimate by 13.9% over the last 30 days. And an upward trend in earnings estimate revisions usually translates into price appreciation in the near term.