"Obviously, oversold can become more oversold in a panic-based market environment," said Dwyer.
|
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"The market is oversold anyway, the market is so oversold it's not funny," he told CNBC on the phone.
|
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He also believes that Newfield is extremely oversold, and that its oversold condition makes it a good name to buy.
|
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Not only did the stochastic oscillator show Micron coming out of being grossly oversold — a classic buy signal — but the Williams percent R oscillator, another tool measuring overbought and oversold conditions, indicated a possible move higher out of oversold territory.
|
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Finally, Garner noted that the stochastic oscillator, which measures when assets are overbought or oversold, is signaling oversold readings in gold's weekly chart.
|
|
Gold has become oversold, and the short-term move is compelling here; the metal's relative strength index has sunk to 26, indicating an oversold environment.
|
|
To be clear, oversold doesn't mean "at the bottom" — not to be alarmist, but crashes occur from oversold levels in the rare occasions when they strike.
|
|
"There is room for upside follow-through per our overbought/oversold measures, which showed widespread oversold conditions last week among the constituents of the SPX," she said.
|
|
"Also, even though its daily RSI is oversold, its weekly RSI is not as oversold as it has been at other important bottoms for the stock," added Maley.
|
|
The reading meant that stocks were dramatically oversold, almost as oversold as they were two years ago, when the Dow reached 16,000 after a several-thousand-point decline.
|
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Garner noticed that the Williams Percent R oscillator, an indicator created by trading guru Larry Williams that shows when securities are overbought or oversold, put oil in oversold territory.
|
|
" CVS Health: "I think this one is dramatically oversold.
|
|
In her chart tracking West Texas Intermediate crude over the last six months, Garner noticed that two key indicators that show when securities are overbought or oversold put oil in oversold territory.
|
|
Maley also noted that the ETF's relative strength index — a momentum indicator that evaluates overbought and oversold conditions — is the most oversold it's been since 2008, suggesting overall market sentiment is very negative.
|
|
"We're clearly oversold and we're finding good value," he said.
|
|
Any reading below 30 typically suggests an asset is oversold.
|
|
The death of manned combat aircraft has been well oversold.
|
|
The contract was technically oversold on the relative strength index.
|
|
The beans were incredibly oversold, making new contract lows yesterday.
|
|
Any reading at or below that level indicates oversold conditions.
|
|
"They've ridden that bounce from extreme oversold levels," added Elfenbein.
|
|
I do think the stock is oversold, but holy cow.
|
|
Conway said ANZ had been getting towards being technically oversold.
|
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He also thinks fixed income has been a little oversold.
|
|
"The retirement savings crisis has definitely been oversold," he said.
|
|
The telecom sector has the most oversold loans, bankers say.
|
|
The grandeur of the presentation makes the piece seem oversold.
|
|
Be ready to buy shares in retailers when they become oversold.
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Be ready to buy shares in retailers when they become oversold.
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The RSI is considered overbought above 70 and oversold below 30.
|
|
Readings above 53 are overbought and readings below 1.0 are oversold.
|
|
As of Thursday's close, the market was extremely oversold, Stockton said.
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|
It feels like it was just a rebound from oversold levels.
|
|
Mupita said the shares were oversold and trading below broker consensus.
|
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That driver later complained that the carmaker had oversold Autopilot's capability.
|
|
These and other sectors (materials) have reached well within oversold territory.
|
|
But the ISM's usefulness for evaluating the markets is dramatically oversold.
|
|
Do you think the press has oversold — or overpromised — the scandal?
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A man is dragged off an oversold United flight in Chicago.
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A reading above 70 is considered overbought, below 40 is oversold.
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|
He never oversold a race, but neither did he undersell it.
|
|
Recent declines left the market in an "oversold condition," he added.
|
|
Still, the importance of the new map should not be oversold.
|
|
Its relative strength index, or RSI, measures overbought or oversold conditions.
|
|
In fact, his much-discussed and oversold Africa policy is in jeopardy.
|
|
Why it matters: the flight wasn't oversold until the crew got there.
|
|
The fact is that the benefits of breastfeeding have been vastly oversold.
|
|
In cattle, futures were technically oversold and for a rebound, analysts said.
|
|
The answer is probably "never", for canakinumab's benefits have been greatly oversold.
|
|
But UBS Wealth Management sees sterling as "increasingly oversold" against the dollar.
|
|
It plummeted to roughly 20 in December, suggesting the index was oversold.
|
|
Much about the "jobs" impact of the agenda is overstated and oversold.
|
|
He also noted some short-covering and recovery from deeply oversold levels.
|
|
It's different this year, he said, because oil was oversold in December.
|
|
A reading above 70 implies overbought levels and below 30 implies oversold.
|
|
The RSI was below the oversold level of 30 on Jan. 20.
|
|
But, as usual, in Trump's desperate need for self-aggrandizement, he oversold.
|
|
With that, as of [Monday], 11 of 30 dollar crosses were oversold.
|
|
Last week, the oscillator showed that Starbucks' stock was still being oversold.
|
|
Because most flights take off with empty seats, a majority are oversold.
|
|
"We're telling clients that fixed income is oversold at this point," Anderson said.
|
|
"At current levels, based on current fundamentals, the market is oversold," Sen said.
|
|
"Investors are coming in today from an oversold market last week," Hogan said.
|
|
"Yesterday saw intraday oversold conditions return, contributing to today's bullish bias," she said.
|
|
As a result, the risk-reward profile points to overvalued and oversold territory.
|
|
He thinks the climate-mitigation potential of carbon farming has been greatly oversold.
|
|
She had oversold her preferred version of the truth and she knew it.
|
|
The market has gone from dramatically oversold to overbought in a few weeks.
|
|
Despite these challenges, Colas agrees that the banks have been oversold this year.
|
|
Analysts said the earlier bounce makes sense given how oversold the market appeared.
|
|
United conceded the flight was neither overbooked or oversold, despite its initial claims.
|
|
"It's never been anywhere near that low, so, it's extremely oversold," he said.
|
|
So, this coronavirus has taken it down, but it's certainly not oversold yet.
|
|
Okay, I might've oversold this but, yep, our honk was originally a quack.
|
|
Its RSI, a measure of overbought and oversold conditions, ended Thursday at 41.43.
|
|
Recovery from seriously oversold territory during the 2008-2009 crash is a contributor.
|
|
He also cites the group's "oversold" condition as a reason to get bullish.
|
|
"Investors are coming in today from an oversold market last week," he said.
|
|
Under 833 is oversold (buying opportunity), over 70 is overbought (susceptible to selling).
|
|
Dr. Zigler later expressed concern that Head Start's educational impact had been oversold.
|
|
Maley, however, said the coronavirus panic has now made these hotel stocks oversold.
|
|
" One problem with seeing the market as oversold is that 40 percent of the stocks he tracks are above their average closing price over the past 50 sessions, and "you tend to get oversold conditions when that number's less than 20.
|
|
" Zelman suggested traders can still make picks on stocks that have been "way oversold.
|
|
Then, it rallied back 600 points, a very positive bounce off deeply oversold conditions.
|
|
He said each company has a great balance sheet, and their stocks are oversold.
|
|
The momentum measure points to oversold conditions when it falls below the 30 threshold.
|
|
"You're seeing very oversold conditions," said Phil Blancato, chief of Ladenburg Thalmann Asset Management.
|
|
In fact, existing egg-preservation techniques are expensive, invasive, often ineffective—and regularly oversold.
|
|
But she argues that mainstream procedures such as cancer-screening are oversold as well.
|
|
WTI was oversold for the third day in a row, Brent for the second.
|
|
"It was a bounce in what was an oversold condition," said trader Guy Adami.
|
|
Oversold stocks are those doing the opposite — trading below their 50-day moving average.
|
|
Dow Transports enters oversold amid 20073-day losing streak ** Consumer Staples dip 0.2 pct.
|
|
Readings below 40 are considered oversold, anything over 70 is overbought, and over 90?
|
|
The cattle market was seen as technically oversold, which attracted some buying on Thursday.
|
|
"I think equine genetics is greatly overstated and oversold at the moment," Lambert said.
|
|
This is a mere oversold recovery, therefore I think prices will fall back again.
|
|
"We're certainly very oversold," said Jurrien Timmer, director of global macro at Fidelity Investments.
|
|
He oversold, and the customers — the public — tired of the pitch, and the pitchman.
|
|
But CBOT futures pared losses as traders considered whether markets, especially soybeans, were oversold.
|
|
The most oversold stocksFinally, investors should consider the biggest underperformers during last week's carnage.
|
|
"We still aren't oversold by any means — it's hardly down at all," he said.
|
|
In other words, the market could be in oversold territory, which James does believe.
|
|
We've gone from really overbought to oversold in a little more than a week.
|
|
Whether this is just an oversold bounce depends on two key technical levels, says O'Hara.
|
|
Cashin noted — as have others —- that buying an oversold bounce has not been rewarded recently.
|
|
Like the S&P, Apple also is oversold in the intermediate term, according to Stockton.
|
|
Mr Rouhani oversold the benefits of the nuclear deal, promising a flood of new investment.
|
|
More importantly, monthly volume trends show the stock nearing oversold levels, typically a bullish signal.
|
|
The latter is when a stock falls too quickly and rebounds with an oversold bounce.
|
|
"I knew these stocks were way oversold and were due for a bounce," said Schiff.
|
|
He said the relative strength indicators point to oversold conditions in a number of indexes.
|
|
Technical analysts use statistics to find "overbought" and "oversold" stocks based on their trading history.
|
|
"It's a little oversold on a near-term basis so it might bounce," he said.
|
|
A reading below 30 indicates the commodity is oversold and could herald a price correction.
|
|
"Natural-born talent, at best, is oversold and more likely does not exist," Gannett says.
|
|
Using that overbought-oversold measure, the two-day price reversal was the biggest since 1928.
|
|
I think we were setting ourselves up for a move and sentiment was very oversold.
|
|
Ten-year yields, for example, are "the most oversold they've been since 1998," Maley said.
|
|
People grossly oversold GOP vulnerability in TX pre-Trump and are grossly underselling it now.
|
|
This is not to say that yogurt is unhealthy, just that its benefits are oversold.
|
|
Analysts said the rebound was largely because traders felt it had been oversold last week.
|
|
However, Bliss believes the market was massively oversold when it hit the lows on Feb.
|
|
"These stocks, a lot of them are very oversold," Maley said on "Trading Nation" Thursday.
|
|
Anything above 70 signals overbought conditions, while a reading below 30 indicates something is oversold.
|
|
On the technical front, Thursday's sell-off drove the local market deep into oversold territory.
|
|
Market participants called the bounce a technical rebound and a reaction to an oversold market.
|
|
The oil market is oversold after two weeks of almost unrelenting selling, some traders said.
|
|
"The market oversold tremendously in December," said David Kelly, chief global strategist at JPMorgan Funds.
|
|
He is too clear and convincing in his tone, has no elisions or oversold emoting.
|
|
Analysts said the euro rebounded largely because traders felt it had been oversold last week.
|
|
The GOP has continually oversold how good the tax cuts will be for the economy.
|
|
We suggest an oversold lira and 15 percent potential upside to historical lows is the target.
|
|
Biotech was among the market's most oversold sectors in 2018, declining nearly 10 percent last year.
|
|
You have a lot of weak stocks, but they're also deeply oversold from an intermediate standpoint.
|
|
Any reading close to or below 30 typically suggests a stock is getting into oversold conditions.
|
|
A report in the Information claimed some employees were concerned the company had oversold its technology.
|
|
Fortunately, breadth has gotten oversold enough to suggest a breach of support would be short-lived.
|
|
He oversold what he's achieved so far, set outsized expectations and ignored the hard choices ahead.
|
|
However, some warned that the current market panic is so serious, there are signs of oversold.
|
|
That bad moment left Dao screaming as he was dragged off an oversold flight Sunday night.
|
|
By Thursday, United conceded that the flight was not overbooked or oversold, despite its initial claim.
|
|
The Nifty, however, rebounded from the extremely oversold territory to end the week 3.69 percent higher.
|
|
Pete Najarian is still a long-term buyer since he thinks the financials are currently oversold.
|
|
Here are the stocks that are oversold that may be due for a pop this week.
|
|
Casino stocks have been oversold and are now cheap, analyst David Katz told CNBC on Thursday.
|
|
In fact, the buying started in tech and moved into some very oversold names, Redler said.
|
|
This is a shot in the arm for a market that is modestly overbought and oversold.
|
|
PNC Asset Management Chief Investment Strategist Bill Stone tells CNBC's "Power Lunch" stocks have been oversold.
|
|
Perhaps the Supreme Leader did not understand the nuclear deal, or perhaps Mr Rohani oversold it.
|
|
" Edison International: "Oversold, and I don't think it's going to be as dangerous as people think.
|
|
"The market had become very oversold and was more likely to snap back," HSBC's Steel said.
|
|
But within 10 years, many companies decided that the practice, known as offshoring, had been oversold.
|
|
Two years later, a higher court concluded that the expert witness had oversold this newfangled technique.
|
|
First off, internal indications of oversold conditions are not reliable in these kind of extreme events.
|
|
Airlines have oversold flights for decades, expecting several people not to show up for a flight.
|
|
"The markets are very oversold and the dollar is overbought," said John Caruso of RJO Futures.
|
|
They added that there is still room to go before the real crosses into oversold territory.
|
|
"It reached a reading just shy of 1.35 last week, which is what we would consider oversold, and so I think that right now what we're enjoying is an oversold rally in the market based on that extreme we got last week," said Meisler, a RealMoney.
|
|
"What happened yesterday was the market got way oversold," said Tom Essaye, founder of The Sevens Report.
|
|
Crude's relative strength index, a measure of oversold and overbought conditions, fell below 15 in mid-November.
|
|
Manufacturers, such as Purdue and Johnson & Johnson, allegedly oversold the benefits of opioids and underplayed the risks.
|
|
"Buyers are just sitting back and instead of playing an oversold bounce, they're just waiting," he said.
|
|
Those extremely oversold conditions have Miller Tabak equity strategist Matt Maley seeing positive signs in the market.
|
|
"Short-term momentum is weak, but oversold conditions could help minimize immediate downside follow-through," she said.
|
|
On a weekly basis, the SMH ETF's RSI sits at 42, above the threshold suggesting oversold conditions.
|
|
"There is upward pressure (on production rates) because we are oversold," Marketing Vice President Randy Tinseth said.
|
|
On the other hand, the speculative trades—like the IBB—are oversold...they tend to snap back.
|
|
The health care group showed promise for Cramer, courtesy of a snap back after being severely oversold.
|
|
Most oversold were European credit, global financials and materials stocks, as well as Italy, China and Turkey.
|
|
That kept both U.S. and Brent futures in technically oversold territory on most days since late April.
|
|
That decline pushed both contracts to their lowest since May 232.14, driving them into technically oversold territory.
|
|
Equities have again entered "oversold" territory, they said, adding, however, that headwinds for technology stocks were increasing.
|
|
This oversold condition for markets is "where bottoms have formed recently," said Gavin Parks, an independent trader.
|
|
" The Bank of Nova Scotia: "Oversold, well-run, terrific play on both Latin America and on Canada.
|
|
And the pro-Brexit forces have always oversold its benefits, which makes any actual agreement seem unsatisfactory.
|
|
He says the latest short-term rallies in the market are due to compression and oversold conditions.
|
|
Evercore ISI technical analyst Rich Ross said the 10-year yield is the most oversold since 1998.
|
|
"We are extremely oversold in the cattle," said Brian Hoops, president of U.S. broker Midwest Market Solutions.
|
|
Wilson still recommends a four-part strategy that involves buying quality stocks and the most oversold names.
|
|
"No, it's something with an oversold and didn't volunteer or something like that," the United employee responds.
|
|
"The market was way oversold," Alec Young, Managing Director, Global Markets Research at FTSE Russell, told me.
|
|
"This has taken it from ridiculously overbought to somewhat oversold," Maley told CNBC's "Trading Nation " on Tuesday.
|
|
The stock began the year at less than 40, closer to the 30 threshold indicating oversold conditions.
|
|
Its volume has spiked over the previous two days, suggesting to Maley it may have been oversold.
|
|
In January, Trump oversold again in an interview with The Washington Post about what he would deliver.
|
|
An RSI below 30 suggests a market is technically oversold and subject to an upward adjustment soon.
|
|
Investors who think the market may be oversold look to buy stocks they think are suddenly cheap.
|
|
"After the weakness in the markets last week, things have gotten a little bit oversold," he said.
|
|
By some technical measures, the S&P was its most oversold in years following Monday's sell off.
|
|
Kensho points out the most statistically oversold stocks — which also are most likely to see near-term gains.
|
|
The first time, in 2009, Kodiak had inadvertently oversold a promotion at Safeway, which cost the business $50,23.
|
|
In December, oversold markets have struggled to make a comeback, suggesting that investors are worried about something bigger.
|
|
The index, which had risen from an oversold region, has been trading in the neutral territory since Jan.
|
|
And I bet that means the market will attempt to stabilize at these new lower but oversold levels.
|
|
"Basically the market was oversold, due for a bounce," said Lance Roberts, chief investment strategist at Clarity Financial.
|
|
"The index looks quite oversold," Erste analysts said in a note, adding that a turnaround may be close.
|
|
So coming into the trading week, we saw Nike was exactly at that 30 oversold condition on RSI.
|
|
It's simply too early to know, leading to criticisms that the experimental therapy is being overhyped and oversold.
|
|
Some analysts said United's decision would only reduce the number of oversold jets, with no impact on output.
|
|
As for Netflix, the stock was so oversold that Lang thinks it could be due for a bounce.
|
|
With the average S&P 500 stock in correction, Trennert said markets are getting "awfully close" to oversold.
|
|
" Read MoreTraders pricing in only one Fed rate hike in 230 "There's no question the markets are oversold.
|
|
Technical buying also contributed strength to the hog market which was oversold coming into the week, VanDyke said.
|
|
"What's really positive is on the risk-on days you've seen outperformance on the oversold groups," he said.
|
|
In this case, it looks like Revolver either completely made up the story, or at least oversold it.
|
|
Moon may have oversold North Korea's willingness to negotiate in good faith to delay such action, in fact.
|
|
A level above 70 typically suggests overbought conditions, while a level below 30 suggests a stock is oversold.
|
|
But he also contends that the tax advantages of homeownership are often oversold, particularly to moderate-income households.
|
|
He also attributed support for gains to extremely oversold conditions and more accommodative remarks from Federal Reserve policymakers.
|
|
Saying the market is "oversold" doesn't exactly mean it's an "all-clear" signal that the pain is over.
|
|
He also says recent sell-offs in the two put their relative strength index closer to oversold territory.
|
|
"So far, this is a reaction to an oversold condition," said Bruce Bittles, chief investment strategist at Baird.
|
|
Agriculture companies: They're benefiting from being oversold in 2015 and 2016 out of fears of a global slowdown.
|
|
"Prices are elastic and this is the snap back of a historic oversold condition in WTI," he said.
|
|
Today's auction system on oversold flights, ironically, is the stepchild of a 1976 Supreme Court case, Nader vs.
|
|
An RSI, which measures overbought or oversold conditions, is typically considered overbought when a measurement reads above 70.
|
|
Moreno pointed to the chart's stochastic oscillator, a tool that measures whether a stock is overbought or oversold.
|
|
This comes on the heels of extremely oversold conditions, and sentiment has become quite bearish around the greenback.
|
|
No harm in waiting until this market gets oversold before you put a lot of money to work.
|
|
"Here's a stock that again got oversold, held its summer lows and tried to bounce back," said Maley.
|
|
On the other hand, real estate investment trusts are trailing the market and trade near "technically oversold levels."
|
|
Those threats came after Dr. David Dao was dragged off of an oversold United Airlines flight in April.
|
|
The same is happening with Marriott, said Maley, noting that the stock's RSI chart also is signaling oversold.
|
|
Eleven died in 1979 when fans of The Who surged towards the doors of an oversold concert in Cincinnati.
|
|
The market has likewise been unable to capitalize on periodic "oversold" readings to generate a sustainable or convincing rally.
|
|
From that statistical standpoint, the most oversold Energy stocks are Range Resources, Anadarko Petroleum, Newfield Exploration and Chesapeake Energy.
|
|
" He continued, "When a raid is being oversold, then you maybe won't learn from what you should learn from.
|
|
The market was supported by fund short covering with the market technically oversold after a prolonged decline in prices.
|
|
But traders added that with signs of the market being oversold, some short-term investors were covering earlier shorts.
|
|
"We're firmer today because the market got deeply oversold, technically," said Don Roose, president of Iowa broker U.S. Commodities.
|
|
"After my team spent some time with him, it was then clear he had oversold his abilities," he said.
|
|
Meanwhile, energy stocks have rallied more than warranted by the oversold bounce in oil prices, according to the strategist.
|
|
Tremendously oversold, the originally scheduled concerts couldn't hold all the attendees, resulting in the now-infamous Times Square riot.
|
|
Donahue said the company had an oversold position in North America that was expected to continue through the summer.
|
|
Its RSI, or relative strength index, is a momentum measure that reads overbought or oversold conditions in a stock.
|
|
Heartland Financial Chief Investment Officer Nancy Tengler tells CNBC's Power Lunch on Tuesday she believes the sector is oversold.
|
|
"Importantly, even at the 57 per month rate, we continue to be oversold," Muilenburg had said on Oct. 26.
|
|
Trader Tim Seymour said that stocks like Clorox might have been oversold and may be back in value territory.
|
|
After examining the charts, Fairlead Strategies' Katie Stockton sees a higher move, saying the stock has reached oversold levels.
|
|
The commodity's oversold condition can be found in charts of crude oil over the past year, according to Johnson.
|
|
He sees oversold conditions in the iShares MSCI Emerging Markets ETF, which has fallen 8 percent already this year.
|
|
The market was oversold in December...Now in this very quick rebound, stocks are pretty close to fairly valued.
|
|
That didn't matter for the stock, which was oversold when the company announced a gloomy earnings estimate last year.
|
|
"Because these days, it's far too oversold, so that the price doesn't reflect the fundamentals properly," Soedargo told Reuters.
|
|
"I just think it's bargain hunting from oversold conditions," said Peter Cardillo, chief market economist at First Standard Financial.
|
|
Gorky Urquieta, managing director at investment management firm Neuberger Berman, said investors began to see the bonds as oversold.
|
|
"Blockchain has been way oversold," Wells Fargo CEO Tim Sloan said on stage at the conference in San Francisco.
|
|
Through Tuesday, 68 percent of stocks in the S&P 500 were overbought while just 1.2 percent were oversold.
|
|
Stock dealers said some investors consider the market oversold and its current level attractive for re-entering the market.
|
|
Husqvarna recently oversold on dealer network orders for the first round of Vitpilen and Svartpilen bikes, according to Schuttler.
|
|
So far this week, the Nikkei has lost 7 percent and the market looks oversold in the short-term.
|
|
Those increases pushed both Brent and WTI out of technically oversold territory for the first time in six days.
|
|
Just earlier this month, both benchmarks showed RSI levels of 30 or below, indicating an oversold or bear market.
|
|
U.S. stocks jumped as Microsoft's upbeat earnings spurred a rebound in technology names and investors snapped up oversold shares.
|
|
"You can have sectors that have been oversold or underappreciated do extremely well in a difficult environment," Maris noted.
|
|
Those declines pulled their relative strength indexes below 30 earlier this month, the threshold that typically suggests oversold conditions.
|
|
In fact, crashes – rare as they are and far from likely right now – tend to occur from oversold conditions.
|
|
" Cramer said later on "Squawk on the Street" that the stock market is "the most oversold we've ever been.
|
|
The department will also start collecting data from smaller carriers and regional partners about oversold flights and mishandled baggage.
|
|
Critics say that's led to public disappointment because the campaign for Proposition 26 oversold how quickly treatments might emerge.
|
|
Despite the recent rally, value stocks still remain oversold and "very cheap" compared to history, Lakos-Bujas pointed out.
|
|
Since the W.T.O.'s formation in 1995, its proponents have oversold it with grandiose promises of dazzling economic gains.
|
|
By some technical measures, the S&P was its most oversold in years following Monday's Christmas Eve sell off.
|
|
"Value-buying in this oversold territory is highly likely to underpin gold prices," Religare Securities analyst Sugandha Sachdeva said.
|
|
"To say that the stock market is now extremely oversold would be the understatement of the year," he said.
|
|
"To say that the stock market is now extremely oversold would be the understatement of the year," he said.
|
|
But the deadlock remains, prompting Mr. Moon's critics to question whether he has oversold Mr. Kim's willingness to denuclearize.
|
|
The rate refers to travelers whom airlines bump, not those who voluntarily take a different flight when theirs is oversold.
|
|
"It's a bad sign that oversold markets not bouncing," Michael Hartnett, Bank of America Merrill Lynch's chief investment strategist wrote.
|
|
The XLE hit its most oversold level in four years in October as its relative strength index tumbled to 18.
|
|
Alcohol's potential health benefits may have been oversold by industry-funded research, distracting consumers from the realities of cancer risk.
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CNBC's Jim Cramer argued Tuesday that stocks are "really oversold" after the market fell to a new low for 2018.
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"I think GE shares have been a bit oversold due to excessive fears about liquidity," Heymann wrote in a note.
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However, Maley says the setup for the sector is better this time because many stocks within the XLE are oversold.
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He oversold his language skills, constantly paraphrased answers during interviews, and was moody as hell—souring at the simplest direction.
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"This is more likely a correction from oversold doom and gloom positions," said Stephen Innes, managing partner at VM Markets.
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It is near downside support at 280,71, 225% below its 22.1-day moving average, a level considered to be oversold.
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" But Blumenthal blamed United for "having either oversold seats on the plane or having failed to properly schedule its crew.
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We looked for the stocks that historically have had the biggest future five-day returns after reaching this oversold state.
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Johnson added he thinks the broader market is oversold and that stock market investors will see sizable gains in 2016.
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We'll find out if the Granite State has been oversold as a place that can make or break political candidates.
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Finally, the market became so oversold on Wednesday that Cramer thinks investors can start to pick their favorite stocks again.
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With exception of the consumer packaged goods cohort, some investors could think stocks all bounced back because they were oversold.
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Some US officials believe Moon oversold Pyongyang's promises when his government relayed Kim's invitation to Trump for talks in March.
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The XLP's relative strength index, a measure of the overbought or oversold conditions of a security, currently trades at 32.
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Bond prices, which move inversely to yields, are now looking oversold, said Larry McDonald, editor of the Bear Traps Report.
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Essentially, investors should look to sectors and stocks that are "oversold, and avoid the sectors that are overbought," he said.
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"It's a bad sign that oversold markets not bouncing," Michael Hartnett, Bank of America Merrill Lynch's chief investment strategist, wrote.
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They soon found that Qassim al-Araji had wildly oversold his power over the Iraqi government (and the Baghdad airport).
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They believe a bounce could occur here even as coronavirus cases continue to surge because the market was so oversold.
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"Hong Kong stocks had been oversold and investors are buying the dip," said Ben Kwong, executive director of KGI Asia.
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You get some progression in containment, there could be valuation catalyst here at any point and technically markets are oversold.
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The talking heads and pundits oversold every leak or agency report in the hopes that it might derail the administration.
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Market veterans saw little reason for the dramatic recovery -- other than the fact that stocks had gotten to oversold levels.
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But its success has been oversold, and in my experience the professionals involved rarely articulated the high probability of failure.
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United raised its cap last April for what its employees could offer fliers on oversold flights to $10,000 per passenger.
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Another 2 points and it's really going to be oversold and then, and only then, would I pull the trigger.
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This time around, with three rate hikes forecasted for 2018, it's likely the FOMC has once again oversold its hand.
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Gao Jubin says his son had the car on Autopilot during the crash, and alleges Tesla oversold the semiautonomous feature's capabilities.
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Unfortunately, though standing desks have been heavily promoted as the antidote to our sedentary lifestyle, their benefits have been grossly oversold.
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So it will be interesting to see as the U.S.-Mexico relations get developed under this [Trump] administration is that oversold?
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Ari Wald, technical analyst at Oppenheimer, said he also sees a retest of lows coming, but the market is getting oversold.
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"I believe that we are seeing an 'oversold' chapter for oil," Kloza told CNBC's "Futures Now " in an email on Wednesday.
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"Clearly, I think it was oversold yesterday," said Peter Ng, senior currency trader at Silicon Valley Bank in Santa Clara, California.
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Katie Stockton, chief technical strategist at BTIG, attributed the gains in S&P futures to an oversold bounce in European markets.
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It has "triggered a relief rally" in an "oversold" market, according to Ben Jang, a portfolio manager at Nicola Wealth Management.
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About the only thing we see is that the complex is somewhat oversold ... but even that is not in extreme territory.
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Some leading cannabis companies have probably been oversold, since it's unreasonable to expect profits from companies selling recreational cannabis just yet.
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"OPEC oversold the meeting to the market way too early," Amrita Sen, from the consultancy Energy Aspects, told Reuters in Vienna.
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The SPX is poised for downside follow-through this week because it is not yet oversold from a short-term perspective.
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"This is a more likely a correction from oversold doom and gloom positions," said Stephen Innes, managing partner at VM Markets.
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Overall, a view that recent strong gains might have pushed some stocks into "oversold" territory also weighed on sentiment, traders said.
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In the short term, "silver is VERY oversold," Miller Tabak equity strategist Matt Maley wrote in an email Friday to CNBC.
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Finally, the market became so oversold on Wednesday that Jim Cramer thinks investors can start to pick their favorite stocks again.
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The full stochastic oscillator, which measures when stocks are overbought or oversold, shows that Qualcomm is still far from being overbought.
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"Health care is oversold, although biotech still has regulatory issues and/or a Clinton presidency is holding it back, " Carbone said.
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As we saw with crude oil, a pullback in the dollar is helping the commodity bounce from a deeply oversold condition.
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Stutland says that the VIX has yet to hit the lower Bollinger Band, which would indicate that the VIX is oversold.
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In Hong Kong, the Hang Seng Index closed down 2.4%, entering 'oversold' territory for the first time in almost two months.
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The market is dire, and there's not the liquidity that there used to be, which can mean the market gets oversold.
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During recent sessions, Amazon's relative strength index, a measure of overbought and oversold conditions, has risen back up to March levels.
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Its relative strength index has dipped to a reading of 20, below the 1.93 level that delineates normal and oversold conditions.
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Oppenheimer's head of technical analysis, Ari Wald, said the 2.063-year Treasury yield is now its most oversold in eight years.
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Anytime it gets one standard deviation above or below, it's either overbought or oversold," Hickey said Tuesday on CNBC's "Futures Now.
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"We are seeing a bit of oversold price recovery coming into Australian market today," said Gary Burton, analyst at IG Markets.
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"In fact, today we have the first short-term oversold condition since early April for both the Dow industrials and the ."
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Greenwald's other critiques of Trump-era reporting—of oversold scoops and neglected non-Trump stories, from Yemen to Catalonia—are valuable.
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"Asset carnage is cross-market and has infected U.S. tech leadership," Hartnett pointed out, adding that the asset class is oversold.
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"The market had gotten way oversold," said Gary Bradshaw, senior vice president and portfolio manager at Hodges Capital Management in Dallas.
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"I believe in the rally for the short term because I believe the market did get oversold last week," he said.
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Urban Outfitter, which is basically Hipster Hot Topic, has already started cancelling pre-orders for the bundle because they oversold them.
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But I will say, tactically, they are oversold, so I don't think now is the time to bet against them, either.
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Finally, Cramer said if Friday rolls around and the market is significantly oversold, he recommends buying shares of biopharmaceutical company AbbVie.
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The sporting brand's relative strength index is also headed lower, moving closer to oversold conditions after a sell-off this week.
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Last week's big sell-off in U.S. equities sent traders reeling, but Goldman Sachs believes a number of stocks are oversold.
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After reviewing the literature, Oster believes that the health benefits of breast-feeding are real, but that they have been oversold.
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Only 13% of stocks are trading above their 50-day moving averages, evidence that Walters believes suggests stocks have been oversold.
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The video and controversy led to United and other airlines dramatically altering their policies for bumping passengers off of oversold flights.
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"It's right on a key level of chart support -- $43 to $42 is an area that we've identified that has supported us for the last two and a half to three years so we really like the fact that it's extremely oversold, it's most oversold in over a decade, and sitting on significant chart support," O'Hara said.
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On Thursday the 14-day relative strength index rose to 24.173, still in oversold territory, versus Wednesday's 12.070, Thomson Reuters data showed.
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However, the odds that it will hold on its "first test" are quite high, especially given how oversold the stock has become.
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"The tough part will be [knowing whether] it's the low or just an oversold bounce going into the seasonal period," he said.
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And Japan's MUFG s views Brent and U.S. West Texas Intermediate (WTI) to be "oversold," predicting a "sharp rebound" in coming months.
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"I think the dollar looks increasingly oversold," CIBC head of FX strategy, Jeremy Stretch, said in the Reuters Global Markets Forum chatroom.
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With gold prices sinking to 2019's lowest level last Thursday, Standard Chartered's Suki Cooper believes they're closing in on oversold territory.
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"Clearly, I think (the dollar) was oversold yesterday," said Peter Ng, senior currency trader at Silicon Valley Bank in Santa Clara, California.
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Newton is also watching Netflix's relative strength index, which suggests the stock may be getting a little oversold in the short term.
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Additionally, he looked at the Williams Percent R oscillator, which is a momentum indicator that measures if a stock has become oversold.
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So I think, now, the stock's still coming back, but, again, after the 70 percent decline, [the] monthly RSI again became oversold.
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"A lot of our weekly and tactical indicators are starting to get oversold," said Robert Sluymer, technical strategist at Fundstrat Global Advisors.
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Trader Steve Grasso said he likes Macy's and Kohl's because the stocks are oversold and he expects for them to move higher.
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This means a stock can also fall so fast that investors should expect it to snap back, because it is technically oversold.
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The index was in oversold territory, with the 14-day relative strength index at 19.845 versus Wednesday's 13, Thomson Reuters data showed.
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However, with exception of the consumer packaged goods cohort, some investors could think these stocks all bounced back because they were oversold.
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The second column is the stock's track record over the next few days after falling into this oversold range in the past.
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Complaints about airlines to the DOT dropped 23 percent, while the number of passengers bumped from oversold flights was cut in half.
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Investors have pointed to oversold conditions priming the stock market for a rebound, but rallies have tended to fizzle to start 2016.
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"We believe the market has oversold the AMD shares based on alternative crypto-currency mining solutions coming to market," the analyst said.
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But he added there was still a "sizeable amount of money on the sidelines" waiting to come in if markets got oversold.
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Furthering his optimistic call is the oversold nature of some of the XRT's components like Abercrombie & Fitch, Urban Outfitters and L Brands.
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The index was in oversold territory, with the 14-day relative strength index at 15.978 versus Tuesday's 13, Thomson Reuters data showed.
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The selling in tech had been broad-based by all types of investors, and it appears the sector became oversold, Suzuki said.
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I become an effigy of every slight they'll face, a symbol of every inconsiderate passenger, every unwelcome reclined seat, every oversold flight.
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Excessive bearishness relative to bullishness can be a signal that the market could be be oversold and is poised to move higher.
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Either way, what investors should do now is bulk up after last week's "indiscriminate sell-off" that created oversold conditions, Wilson said.
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Then a flight from Charlotte to Dallas was canceled, there was only one other flight home that night, and it was oversold.
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Obviously there will be individual stocks which portray an oversold or undersold perspective but across the board I think equities are okay.
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There will be some stocks to buy tomorrow, but let's get better prices and more oversold levels before we take the leap.
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"Any time it goes below negative 5, that's considered very oversold and tends, almost always, to lead to a bounce," he said.
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He oversold what he could deliver because he had no idea what would be required to deliver it, nor did he care.
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Sluymer said the market was very oversold, and a metric that looks at advancing issues versus declining issues reached an extreme Monday.
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Stacked up against the ACUF's Seven Principles of Privatization, it is evident that the bill's means don't justify its substantially oversold ends.
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Some political observers think Cambridge oversold its ad targeting capabilities, but questions still emerged about the firm's work for the Trump campaign.
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While the backers of the bill emphasize its supply-side benefits, the growth effects of these tax bills are being vastly oversold.
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"The market is extremely oversold where we left it" on Monday, said Brett Ewing, chief market strategist at First Franklin Financial Services.
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We then searched that group for stocks that have a history of posting positive gains one month after reaching that statistically oversold position.
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Before the open on Monday, Cramer argued the market was displaying "classic bear market behavior " by shooting up on nothing except being oversold.
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One technical indicator showed that the stock is in extreme oversold territory, which is why she expects a rebound within a few days.
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He noted stocks were somewhat oversold and attributed much of the midday recovery to the close in European stocks and some short-covering.
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It has kept its technological cards close to its chest—to the point where some sceptics think that its technology has been oversold.
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That keeps both Brent and WTI in oversold territory for 13 days and 14 days, respectively, their longest bearish streaks since Nov. 9403.
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That keeps both Brent and WTI in oversold territory for 13 days and 14 days, respectively, their longest bearish streaks since Nov. 2018.
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Take a look at United Technologies, take a look at a Danaher — good numbers — or Illinois Tool Works, I thought that was oversold.
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Both good stocks and bad stocks can make big moves, and chart analysts evaluate whether a stock is "overbought" or "oversold," he continued.
|
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Jim Lebenthal, one of the leaders of CNBC's "Halftime Report" model portfolio competition, bought shares of two blue chips he believes are oversold.
|
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And in 2017, United found itself apologizing, and ultimately paying a settlement, for dragging a passenger off of a plane that was oversold.
|
|
With the market reaching an oversold level, it became attractive to investors who have the holding capacity and they are capitalising that situation.
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"We are massively oversold," Tom Lee, managing partner and head of research at Fundstrat Global Advisors, said in a note to clients Wednesday.
|
|
Lean hog futures were also technically oversold by some measures and primed for a rally following an aggressive sell-off in recent days.
|
|
One such move was illustrated by a technical indicator called the full stochastic oscillator, which shows when a stock is overbought or oversold.
|
|
The sideways action of last week is generally viewed as a positive way for the market to work off the slightly oversold conditions.
|
|
Still, the stock is appearing a bit oversold on a near-term basis, Maley said, suggesting that perhaps a bounce is in store.
|
|
Boeing's RSI has now settled closer to 62, below the 70 level suggesting overbought territory but above the 30 threshold indicating oversold conditions.
|
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Looking at a chart of the ETF that tracks longer-term Treasurys, Gordon said the bond market is oversold as yields remain overbought.
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"Platinum was trending significantly lower, got a little oversold and right now, it's covering of short positions," a New York-based trader said.
|
|
Oversold can also represent urgent sellers swamping demand for stocks – and this can sometimes indicate big investors being trapped and forced to liquidate.
|
|
"Since crude is stabilising, some buying is coming back as oil marketing stocks had been oversold due to high crude prices," Dewan added.
|
|
" One such name was JPMorgan, Maley said, adding that its RSI chart was the most oversold it has been "going back several decades.
|
|
"The value differential between value and growth is so stretched in favor of value, and small caps have been so oversold," Mills said.
|
|
Saut said he thought the market was oversold and believed his long-term models would still indicate it remains a secular bull market.
|
|
In 0.0043, United involuntarily denied boarding to 3,765 of its more than 86 million passengers on oversold flights, according to the Transportation Department.
|
|
The dollar also recovered since it was oversold heading into the employment report, said Alfonso Esparza, senior currency analyst at Oanda in Toronto.
|
|
The index was in the oversold territory, with the 13-day relative strength index at 23.399 versus Thursday's 25.714, Thomson Reuters data showed.
|
|
The technician based this on the action in the stochastic oscillator, a tool that shows when a stock has gotten overbought or oversold.
|
|
"EM currencies look oversold in the near term," Per Hammarlund, chief emerging markets strategist at SEB Bank, wrote in an email note Tuesday.
|
|
Both the S&P 500 and the Russell 2000, which tracks small-cap stocks, hit "extremely oversold" levels last week, according to the analysis.
|
|
"We believe investors should view this as an opportunity to gain equity exposure at attractive valuations to market segments that appear oversold," he said.
|
|
Stocks are extremely oversold, but investors still seem bent on selling after the Federal Reserve disappointed markets with a less dovish message than expected.
|
|
"I think it''s deeply oversold...More important than the Friday close is how the market reacts to the Fed next week," he said.
|
|
Reading general states of focus with electrodes, then correlating it to some kind of activity, is an old trick — and one that's often oversold.
|
|
"The market was moving into oversold territory and poised for a bounce," said Quincy Krosby, market strategist at Prudential Financial in Newark, New Jersey.
|
|
Stocks had quickly become substantially "oversold," the S&P stretched far below its trend and the vast majority of stocks primed for a bounce.
|
|
The S&P 500 is now oversold — statistically stretched to the downside — the way it was in late June before a sharp multimonth rally.
|
|
In a research note this week, Wells Fargo Investment Institute said the commodity appeared "oversold", and was ripe for a bounce back in price.
|
|
The index remained in the oversold territory for the fourth day, with the 14-day Relative Strength Index at 28.203, Thomson Reuters data showed.
|
|
Crude oil, which is down 9 percent year to date, is oversold, according to Piper Jaffray managing director and technical market strategist Craig Johnson.
|
|
The poor price action has put many notable stocks into oversold territory, setting them up for a potential rebound if history is any guide.
|
|
Obviously, the oversold conditions that are building up are attractive to some buyers, so it appears that they come in late in the day.
|
|
Trump's rally made headlines Wednesday night after local law enforcement and Burlington Mayor Miro Weinberger released statements of concern for Trump's hugely oversold rally.
|
|
Slowing short-term momentum and oversold conditions could set the stage for a small pullback in the stock market, according to BTIG's Katie Stockton.
|
|
It's becoming increasingly clear, however, that the available evidence regarding the role of mirror neurons in everyday behaviors may have been oversold and overinterpreted.
|
|
But traders added that with signs of the market being oversold, some short-term investors were buying back cyclical stocks they had earlier shorted.
|
|
What started off as, really, a healthy correction has turned into an oversold situation with some elements of panic," she told CNBC's "Squawk Box.
|
|
"After being oversold yesterday, the market has managed to bounce as the yen's rally has cooled," said Hiroki Takashi, chief strategist at Monex Group.
|
|
But when the market gets as oversold as it has lately and people are this negative — it won't take much to spark a rally.
|
|
On Wednesday, Cramer said that stocks were oversold and the sentiment had become so negative that it wouldn't take much to spur a rally.
|
|
And if there is a snap-back, the following Dow members should lead the way based on how oversold they are according to Kensho.
|
|
Hedge funds now hold an overall net short position in U.S. diesel of almost 5 million barrels, their most oversold position since July 2017.
|
|
Industrial stocks, which were dramatically oversold at the end of the fourth quarter on global growth concerns, snapped back as well, up 15 percent.
|
|
Momentum indicators tracked by some analysts suggest both indexes may soon stray into oversold territory, which could stem further declines in the short term.
|
|
The women say the upgrades were standard, particularly for oversold flights, and that other agents who engaged in the same practices were not fired.
|
|
Passengers were notified that four people needed to disembark in order to make room for four United employees because the airlines oversold Sunday's flight.
|
|
The index has been trading in the oversold territory since Tuesday with 13-day relative strength index breaking below 30, Thomson Reuters data showed.
|
|
From a technical perspective, the stock could see a short term rebound, as a measure of its internal relative strength indicates shares are oversold.
|
|
The technician also pointed to Disney's full stochastic oscillator, which detects whether a stock is overbought or oversold, at the bottom of the chart.
|
|
Some of this week's headlines, it turns out, vastly oversold what might happen to your genes when you spend almost a year in space.
|
|
"We are seeing the most oversold currencies bought back on the back of the stimulus package," said Kenneth Broux, FX strategist at Societe Generale.
|
|
But such a move would require Trump to admit he had oversold his achievement in defeating ISIS -- and could damage his case in 2020.
|
|
IT'S A LITTLE BIT DISCONCERTING WHEN BIG, OVERSOLD MOVES DO NOT GET CORRECTED IN ANY KIND OF IMPULSIVE WAY, BUT RATHER GET CONSOLIDATED SIDEWAYS.
|
|
"Oversold technicals -- combined with realistic earnings projects, reduced recession fears, and more pessimism -- are a recipe for a year-end rally," the report says.
|
|
And, as is Trump's wont and calling card, he oversold his voters a bill of goods that he would never be able to deliver.
|
|
"We are seeing the most oversold currencies bought back on the back of the stimulus package," said Kenneth Broux, FX strategist at Societe Generale.
|
|
"They overestimated what the North means in terms of denuclearisation and oversold it to Washington," said Chun Yung-woo, a former South Korean nuclear negotiator.
|
|
A more hawkish singal from the U.S. central bank and investors betting that the dollar had been oversold have hurt the euro in recent weeks.
|
|
Major markets, which have been oversold, surged this week thanks to the Federal Reserve's willingness to cut interest rates if deemed necessary by the data.
|
|
If we keep falling at this pace, ... it won't be long before we reach oversold levels, where all hope is extinguished and we can bounce.
|
|
" Calling the stock "way oversold," Sands told Cramer that he and his brother acquired 1.1 million shares of Constellation "in the last week or so.
|
|
If you look at the weekly [relative strength index], it's the most oversold it's been since 2011, and it's testing its 200-week moving average.
|
|
Using hedge fund analytics tool Kensho, CNBC looked for the most statistically oversold stocks in the energy sector, as measured by the stock's standard deviation.
|
|
After the Fed hikes, Gartman says Citing the relative-strength index, Boockvar said that gold is the most oversold it has been since mid-December.
|
|
In that report, we provided an analysis of how the performed following prior periods of extreme oversold readings and noted that forward returns were positive.
|
|
For reference, anything within one standard deviation is considered a "normal" level, while anything more than one standard deviation above (below) is considered overbought (oversold).
|
|
"You have an oversold condition and the market knows it should try to find a bottom," said Robert Pavlik, chief investment strategist at SlateStone Wealth.
|
|
Semiconductor stocks have struggled recently, but investors showed the oversold group some love with Advanced Micro Devices, Western Digital, Micron and Analog Devices, he said.
|
|
The bourse dipped into oversold territory on Tuesday with the 14-day relative strength index at 29.238 points versus Monday's 33.320, Thomson Reuters data showed.
|
|
"A deeper pullback would be constructive in that it would generate short-term oversold conditions within the framework of the long-term uptrend," Stockton said.
|
|
Big banks' shares plummeted in a tumultuous trading session Friday, but one Wall Street analyst thinks stocks are oversold after a difficult start to 2016.
|
|
That could mean either that these are dead cat bounces, or that they are so deeply oversold they have a lot more ground to retake.
|
|
Brazilian stocks are an example of where longer-term happiness relative to other nations in its region met a short-term oversold opportunity in stocks.
|
|
It also says financials are oversold and look attractive in the long term, but a recovery ultimately depends on Federal Reserve action on interest rates.
|
|
Pioneer Investments Group's chief investment officer Giordano Lombardo said he was "cautiously positive" on certain emerging markets, which he perceives as oversold in some areas.
|
|
"We managed to successfully close above it (on Monday) and that's bringing in some buying this morning, just from a very oversold condition," Cardillo said.
|
|
"The fact that we erased gains and can't rally from deeply oversold conditions tells you everything you need to know about this market," he said.
|
|
The rest of the dream team acts like she oversold them, like they all haven't, at one point or another, given impassioned "I'm awesome" speeches.
|
|
The index has been trading in the oversold territory since Tuesday with the 13-day relative strength index breaking below 30, Thomson Reuters data showed.
|
|
In other precious metals, spot silver was on track for its most technically oversold level on the 14-day relative strength index since November 2014.
|
|
Paul Ciana, chief global technical strategist at Bank of America, says there are two charts of the dollar that show how grossly oversold it is.
|
|
Both major equity indices moved into oversold territory, according to momentum indicators tracked by analysts, suggesting they could be in for a technical rebound soon.
|
|
Stocks are now oversold and the risk to the market tomorrow -- when the all-important September jobs report is release -- may be to the upside.
|
|
VCs — none more so than Masayoshi Son at SoftBank — constantly overbought, oversold, and overcommitted to a company that had pretty much no business fundamentals whatsoever.
|
|
The relief bounce and gold's strong oversold conditions are leading some investors to short-cover, said Gianclaudio Torlizzi, partner at consultancy T-Commodity in Milan.
|
|
"The equity markets snapped back from a deeply oversold condition last week," Bruce Bittles, chief investment strategist at Baird, said in a note to clients.
|
|
"The market is extremely oversold where we left it" on Monday, said Brett Ewing, chief market strategist at First Franklin Financial Services in Tallahassee, Florida.
|
|
The KRE regional bank ETF experienced a similar move in 2011 when it rallied 64 percent in the year after it got to extreme oversold levels.
|
|
However, nutritionists and experts think these aesthetic promises are oversold, and note that taking too much biotin can lead to the misdiagnosis of other health issues.
|
|
On the other hand, Amazon, also oversold, has a clear buy signal as long as the stock holds above $1,525 to $1,560 a share, she said.
|
|
Several large and popular U.S. stocks are due for an "oversold bounce" after falling rapidly to chart levels that in the past have marked a turnaround.
|
|
He also noted that the relative strength index, which tracks momentum, is reaching oversold levels that are typically seen as a sign of an upcoming bounce.
|
|
Investors were selling at a 10 to 1 rate, meaning the volume was heavily skewed to the downside, a sign that things could be getting oversold.
|
|
Interest-rate sensitive names are probably a bit oversold short-term, and a reasonable argument could be made that stocks in general are a bit frothy.
|
|
He likes to use the Standard & Poor's oscillator, a paid subscription product that measures buying and selling pressure to spot when the market is too oversold.
|
|
He noted that historically, when the market are as deeply oversold as they were in December, the following 6 to 12 months have a positive lean.
|
|
Investors can determine whether a stock is overbought or oversold by charting the ratio of higher closes, also known as the relative strength index, or RSI.
|
|
Looking at the charts, Craig Johnson of Piper Jaffray said shares of the credit card giant look oversold, and may be set for a relief rally.
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"Meanwhile, the backdrop for equities is oversold...This has certainly compelled some folks who are under-invested to get back into the stock market," Ware said.
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Tech start-ups have been oversold as a tool for economic development and may be drawing policy resources that could be better spent elsewhere, said Isenberg.
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Some investors said stocks were deeply oversold and flagged hopes of more central bank intervention to help reverse the trend after three straight week of losses.
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"The S&P 500 went from being very oversold to very overbought in only three-and-a-half weeks," said Adam Sarhan, CEO of Sarhan Capital.
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This is based on a Bollinger Band analysis, a volatility indicator with an upper and lower line that indicates whether an asset is overbought or oversold.
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" On Breitbart, the top headline read "Deep State Strikes: Leaks Classified Info To Washington Post To Smear Trump, LOL: Reporters Negate Oversold Headline In 7th Paragraph.
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The bourse fell to "oversold" territory from "neutral", with the 14-day relative strength index dropping to 27.488 points versus Friday's 30.480, Thomson Reuters data showed.
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The One and its successors were good phones, though HTC oversold the "Ultrapixel" camera, which turned out to not be that good, let alone iPhone-beating.
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"A lot of these bounces you see are from significant oversold conditions," said Michael Antonelli, managing director, institutional sales trading at Robert W. Baird in Milwaukee.
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One indicator that should have meal bulls wary is the relative strength index, or RSI, which measures how overbought or oversold a certain commodity may be.
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Republicans should also worry that they've oversold themselves on the moderate-progressive divide in the Democratic Party and how severely Democrats would be hobbled by it.
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"This is just a temporary correction in a marketplace that is oversold dollars," said Richard Scalone, co-head of foreign exchange at TJM Brokerage in Chicago.
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WE MORE THAN DOUBLED UP TO 295, BUT HAVEN'T REALLY HAD MUCH OF A RALLY OFF OF THAT OVERSOLD LEVEL ON THE TEN-YEAR AT 295.
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It's the single best indicator of whether the market's overbought or oversold, meaning it tells you when we've gone too far too fast in one direction.
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Last week's stock-market slump was an "indiscriminate" sell-off that created oversold conditions, according to Mike Wilson, the chief US equity strategist of Morgan Stanley.
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He said that in the meantime, the weaker dollar would help gold test the key psychological level of $277,1, helping lift it from currently oversold levels.
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"Wanderlust" has already premiered in the U.K., where the show has been somewhat divisive, perhaps in part because its approach to sexuality was a bit oversold.
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These have only grown more acute with time, which is why we could be headed lower, even if we get a snapback rally from an oversold position.
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"Asset carnage is cross-market and has infected U.S. tech leadership," Hartnett pointed out, adding that the asset class is oversold and classify as a bull trade.
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"To put that in context, we have not seen that oversold level since 2008, and that's when oil was trading at around $30 a barrel," he said.
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LAGOS, Jan 363 (Reuters) - Nigerian stocks ended two day of losses to gain 1.14 percent on Thursday, led by banks and cement companies, which investors considered oversold.
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On April 9, 2017, David Dao was asked to leave an oversold Louisville-bound flight from Chicago's O'Hare International Airport so airline employees could board the plane.
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It was getting quite oversold on a very short-term basis, and at the same time, it was testing the bottom end of a symmetrical triangle pattern.
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" Maley said the he wouldn't "chase" the group at this point, deeming them overbought, largely because the bond market is getting "incredibly oversold and incredibly over-hated.
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Williams thinks that more weakness like the stock had on Tuesday could put it back into an oversold position, at which point he would be a buyer.
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Others want to testify to foreign affairs oversight committees on the Hill, particularly over the suggestions in the article that he deliberately oversold the Iran nuclear deal.
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One final cause for concern is that stocks have yet to oversold, although the major indexes have not had a positive session in more than a week.
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We see a lot of parallels to when Kroger was similarly oversold two years ago based on the massive disruption caused by the Amazon/Whole Foods developments.
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Death Wish Coffee was featured on Good Morning America, oversold its coffee thanks to the added publicity, had to refund orders and was temporarily pulled from Amazon.
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But since the U.S. Federal Reserve signalled late last month that it was in no rush to raise interest rates again, Nigerian equities appear oversold, analysts say.
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"Japan looks to be one of the markets that's the cheapest, and arguably the most oversold right now," he said, recommending the Japanese manufacturing and utilities sectors.
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Another technical indicator known as the RSI that measures whether currencies are oversold or overbought, also implies the recent drop in the pound is not that extreme.
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Selling also hit regional banks Tuesday, like PNC and Keycorp, but they would not be affected in the same way, and they are clearly oversold, he said.
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He thinks that if you make the right buys at the right time there are still ways for investors to profit from oversold stocks in the sector.
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Markets are "very oversold," with a lot of "forced selling" going on, says a Fidelity analyst, who compared the recent volatility to extreme downturns in the past.
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On a tactical basis, it means watching for signs of climactic selling, rising fear levels and oversold conditions that often accompany the end stage of a pullback.
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"In this type of environment, rallies remain vulnerable despite a host of commodity complexes being quite oversold," ED&F Man analyst Edward Meir said in a note.
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Sometimes, as was the case when United Airlines removed Dr. David Dao from a plane this month, bargaining was not a result of the flight's being oversold.
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"We were pretty oversold going into the end of the week in the dollar and there was a lot of potential risk on the horizon," he said.
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In fact, Target's RSI is approaching especially oversold levels from which it has rebounded quite sharply in the last two years, Maley said, pointing to the chart.
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She would look to utilities and the utilities-tracking XLU ETF specifically, because the sector's underperformance has been quite pronounced, to the point of an oversold condition.
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Some investors have the high level of shorts and low positioning in ETFs as an indication that gold is due for a turnaround as it is oversold.
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Further gains from here would give weight to the argument that this is real-money buying coming back in rather than a mere bounce from oversold levels.
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But when he tried to check in close to midnight, the front desk employee told him that the property was oversold and no more rooms were available.
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David Dao, 69, was one of four passengers asked to leave an oversold Louisville-bound flight from Chicago's O'Hare International Airport so airline employees could board the plane.
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"The general history of semis is they go from grossly overbought conditions to grossly oversold conditions, and I don't think we're anywhere near the capitulation point," said Schlossberg.
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"The primary driver of today's action continues to be this idea that markets were oversold," said Michael Arone, chief investment strategist at State Street Global Advisors in Boston.
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Wall Street is nearly oversold and investors should get ready to load up on names that can withstand the threat of higher tariffs, CNBC's Jim Cramer said Monday.
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Japan's stock markets are "oversold and unloved" — the opposite of U.S. equities, said Morgan Stanley, predicting that the Topix may jump as much as 15% by June 2020.
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"People are starting to buy in, thinking the higher-flying growth stocks were oversold," said Janna Sampson, co-chief investment officer at OakBrook Investments LLC in Lisle, Illinois.
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If there's one economic policy Trump and his fellow Republicans in Congress oversold, it was the idea that cutting taxes would propel US economic growth into outer space.
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"It may be that the market was a little bit oversold, a little bit too much pessimism, so bargain hunters came in to buy some shares," Carey said.
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"We're not very oversold yet so the market still has more downside left to it," said Robert Pavlik, chief market strategist at Boston Private Wealth in New York.
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But again its weekly RSI chart is quite oversold and that one could be due for a bounce, one that could last more than a couple of days.
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Measurements above 1.2 indicate an overbought market while a reading of 1.0 or below indicated an oversold market, which indicates fear in the market on a tactical basis.
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"We have indicators that tend to be these market-internal measures — breadth, leadership, sentiment and volume — that tend to reach these oversold extremes at tradeable lows," Stockton said.
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But the inverse can also be true, as a stock can also fall so fast that investors should expect it to snap back because it is technically oversold.
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"There is upward pressure (on production rates) because we are oversold," Marketing Vice President Randy Tinseth told Reuters in an interview on the sidelines of the Singapore Airshow.
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Using Kensho, a quantitative analytics tool used by hedge funds, we ran a screen to search for the most oversold and overbought stocks in the S&P 500.
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"The prevalence of these 4 oversold conditions (50D/200D for S&P 500/Russell 2000) is a major tactical signal and we would be aggressive buyers," Lee said.
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"History shows that when the S&P 500 regained trend (both Bottom Up and Top Down) after exiting deep oversold conditions, equity markets experienced continued upside," O'Hara added.
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Read More Cramer: Market oversold—start picking these stocks But one thing that really bugs Cramer, is how reliant the U.S. stock market is on the Chinese market.
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These are the oversold stocks and their five-day average move when they traded this far below their 50-day moving average in the past, according to Kensho.
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These are the oversold stocks according to Kensho and their five-day average move when they traded this far below their 50-day moving average in the past.
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"The market was massively oversold by the end of trading yesterday, so it's no surprise that we're seeing a snap back," said Nicholas Smith, a strategist at CLSA.
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Consumer staples stocks traded in overbought territory at the beginning of the year but fell sharply into oversold levels during the early February sell-off on broader markets.
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"Value-buying in this oversold territory is highly likely to underpin gold prices," said Sugandha Sachdeva, vice president of metals, energy and currency research at Religare Securities Ltd.
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"That RSI indicator in the bottom of the chart is very oversold and starting to bottom so that's really part of that bottoming phase taking hold," he said.
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The surge in oil was not based on any change in fundamentals; the truth is that crude is so oversold that it was finally due for a bounce.
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The victims were killed by a stampede inside the venue caused by overcrowding, the judges ruled, who found the Madrid Arena was intentionally oversold by nearly 6,000 tickets.
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"Markets were in a bit of an oversold territory so it's a pullback that we are seeing today," said Alex Mathews, head of research at Geojit BNP Paribas.
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Some researchers have also worried that the bill's proponents have oversold it as a silver bullet that will fix the education system and vastly improve teenagers' complicated lives.
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GRAPHIC: Biggest monthly fall in 30-year USTs since 2011 - here Evercore ISI technical analyst Rich Ross said the 10-year yield is the most oversold since 20163.
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All in all, the rally in European stocks since late August has helped them work off their oversold condition that had built up after a three-month decline.
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Bespoke Investment Group points out the had only gone from "extremely overbought" to "extremely oversold" (as statistically defined) in less than two weeks 21 times before this correction.
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"It is oversold in an uptrend using that 200-day moving average as a proxy for trend both in absolute terms and relative to the market," said Wald.
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But as the contract moved deeper into oversold territory it finally got a hefty bounce, and prices notched their biggest daily gain in nearly two years at Thursday's close.
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It is being oversold and it is necessary for people to understand what it is that we are researching and what it is that we are trying to do.
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"Today's price rebound across the energy spectrum looks like a normal correction from a short-term oversold technical condition," Jim Ritterbusch of Ritterbusch and Associates said in a note.
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"Offering free upgrades, especially on an oversold flight, is a common practice, but suddenly, it became a reason to be terminated, just for us, for Korean women," Kim said.
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Crypto investors increasingly believe bitcoin was oversold last year and is now becoming a legitimate investment for people looking to hedge the risk of currency and interest rate fluctuations.
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While the market is seemingly oversold, strategists see little chance for any bounce in the week ahead, and the focus will remain on Washington's fight over a government shutdown.
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Those positives, he said, include excessive pessimism among investors and the broader market being oversold, a condition that tends to create bargains in individual stocks of top-notch companies.
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Get more insight here Wall Street is nearly oversold and investors should get ready to load up on names that can withstand the threat of higher tariffs, Cramer said.
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"The bounce we are seeing is because the metal is oversold, and there is technical buying coming in right now," said Bob Haberkorn, senior market strategist at RJO Futures.
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Those losses have also pushed around 10 stocks' relative strength to 30 or below, the threshold that indicates oversold territory and that may signal a rebound in the making.
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"The move down is in oversold territory, but otherwise, there is very little evidence that it will end," said Dean Rogers, senior analyst at Kase & Company said of WTI.
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In other words, stocks aren't at the "washout level" that Clissold is looking for, but once the market becomes oversold, it could be a sign of an imminent rebound.
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The Delta news comes less than a week after United's PR disaster on Sunday when passenger David Dao, 69, found himself on an oversold flight from Chicago to Louisville.
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A recent article by economists at the IMF entitled "Neoliberalism: Oversold?" argued that in certain cases the costs to economies of opening up to capital flows exceed the benefits.
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That suggests that OPEC won't actually bring output down to the stated level of 256 mb/d, which essentially means that OPEC oversold its deal to the oil markets.
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Markets are oversold but now is not the time to jump in, says John Woods, chief investment officer at Credit Suisse's Asia Pacific private bank and wealth management business.
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"After the weakness in the markets last week, things have gotten a little bit oversold," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
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"If you look at its weekly RSI chart, it's getting very, very oversold, so much so that it's at levels where we usually see decent-sized bounces," said Maley.
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But while the President seems to have been captivated by the possibility of working with Russia against ISIS, there are several compelling reasons why that partnership has been oversold.
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Following the controversy of a United Airlines passenger being dragged off of a plane in April 2017, U.S. carriers either abandoned or curtailed the number of flights they oversold.
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Casts and crews were held hostage as they withstood Kubrick's infinite futzing, and audiences were held in eager suspense by P.R. campaigns that often oversold the films' commercial appeal.
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"It does look like a bounce from an extreme technical oversold level, but I don't think it means we're out of the woods yet by any means," he said.
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Cramer says the oscillator is the single best indicator of whether the market's overbought or oversold, meaning it tells investors they've gone too far too fast in one direction.
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Goldman Sachs has raised its odds of a no-deal Brexit to 25% from 20%, but analysts from Swiss bank UBS predicted the market might prove to be oversold.
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JPMorgan strategists say the market has been very oversold, and now a very large short position could result in a surge of buying if one of two things happens.
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"If the market can't bounce from these extremely oversold levels, then we are likely headed much lower," said Adam Sarhan, chief executive officer of 50 Park Investments in Florida .
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CNBC's Jim Cramer said Wednesday that investors should practice patience, wait for the stock market to fall into oversold territory and prepare to find points of entry into weakness.
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The euro, at $0.53, is 2-1/2 cents off its Friday high as investors, sensing the dollar had been oversold, bought back into the greenback and offloaded euros.
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"Yesterday, the proprietary oscillator I follow hit negative 5, signaling that the market had gotten oversold, which is why I told you it was time to buy," the host said.
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The index fell for a fourth straight session and was in the oversold territory, with the 14-day relative strength index at 13 versus Wednesday's 26.347, Thomson Reuters data showed.
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Moreover, the S&P oscillator Cramer follows to know when there's too much selling pressure indicates that the market is oversold, even as Cramer saw some room for more selling.
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MUFG views Brent and U.S. West Texas Intermediate to be "oversold," predicting a "sharp rebound" in coming months, while Societe Generale forecasts Brent at $73 for both 2018 and 2019.
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Global bank MUFG, meanwhile, is convinced that both Brent crude and WTI are "oversold" and "will rebound from their current bearish market mode," it said it a weekly report Monday.
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"Nineteen of 23 emerging market indexes are now big oversold but we need $11 billion emerging market equity outflows (this week to confirm the signal)," BAML said in the note.
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This as the market was perceived as oversold with anticipation growing that spillover from any boost to the U.S. economy from a Trump presidency could offset newly erected trade barriers.
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"One stock that is getting quite oversold and looks like it might be ready for a bounce is Nordstrom, " said Matt Maley, managing director and equity strategist at Miller Tabak.
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"The rise in oil prices may be simply the result of a technical bounce back from an oversold close," he told the Reuters Global Oil Forum, referring to Thursday's tumble.
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But even for crude, the balance of risks is starting to shift, with positioning and prices suggesting oil is no longer oversold, even if prices do not appear excessive yet.
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In measuring market breadth — the number of stocks pulling back relative to the number of stocks advancing — small caps appear to be their most oversold since January 2016, he said.
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"So whether it's 2,280 [or] 2,270, it's less important to me, but rather to see these oversold conditions registered, which we saw at all the three major lows last year."
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For me, it's much more, … whatever it takes to get the key indicators I look at to get oversold enough," Dwyer said in a Wednesday interview on CNBC's "Trading Nation.
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"Pharma was one of the oversold and underowned sector," said Gaurang Shah, head investment strategist, Geojit Financial Services, noting that the earnings outlook for the sector is expected to improve.
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Best entry, exit points Investors can determine if a stock is overbought or oversold by charting the ratio of higher closes, also known as the relative strength index, or RSI.
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The Relative Strength Index (RSI), which measures momentum in asset pricing, fell below 30 for both oil benchmarks for the first time in almost a month, suggesting an oversold market.
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"We tend to wait for the market to get oversold enough and as of this week we got into that category," said the chief U.S. market strategist for Canaccord Genuity.
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On April 9, Dao, 69, was one of four passengers asked to leave an oversold Louisville-bound flight from Chicago's O'Hare International Airport so airline employees could board the plane.
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"The market is getting oversold," Byron Wien, vice chairman of the Blackstone Group's Private Wealth Solutions Group, told the Reuters Global Investment 2019 Outlook Summit in New York on Tuesday.
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In the event the hotel is oversold, management will "walk" you to a nearby hotel, usually comping your night — a common practice, comparable to what airlines do with overbooked flights.
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Peter Boockvar, chief investment strategist at Bleakley Financial Group, said stocks got oversold and bounced back even with interest rates rising back to levels that unsettled the market last week.
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Saying it's oversold is just, unfortunately, not sufficient, even if it's a well-known brand name, to say that I want to take a real stab at trying to buy.
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Now in his third act in the industry with a newly-formed independent, he argues that geology itself is a constraint, investor demands have sharpened and technology is being oversold.
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However, Hao Hong, head of research and chief strategist at Bank of Communications (International), said China was already poised for an "oversold rebound" — even without the supportive comments from the regulators.
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Monday's reversal in the stock market could be the start of a bounce for the largely oversold equity cohort, CNBC's Jim Cramer said as stocks recovered from their Thanksgiving-week declines.
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Hot Water Music's gut-punching, claustrophobic, rage-inducing sound rattled the oversold audience that traveled from all over the world to watch the band artfully tell each other to fuck off.
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Measures include alerting passengers of oversold flights before they get to the airport so they can opt to rebook online and increasing compensation for passengers who are okay with getting bumped.
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NEW YORK (Reuters) - The global chief investment strategist for BlackRock Inc, the world's largest asset manager, on Friday described Japanese stocks as cheap and "arguably the most oversold" in financial markets.
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"We are finding attractive valuations in non-energy names that have been oversold in reaction to lower oil prices over the past year," said Craig Hodges, CEO of Hodges Capital Management.
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" "The market has been oversold so you'd have expected to see a bounce but there are those who were waiting for the bounce to sell into it to lock in gains.
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And finally, the money-flow index, which measures inflows and outflows into a security over a given period of time, indicates an oversold technical condition as it nears the 20 mark.
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"You'll see that the EWJ has gotten pretty oversold and is starting to bounce, money flow is starting to improve back into EWJ," Johnson said Friday in a "Trading Nation " segment.
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If you are ready to take with equanimity the euro area's unwieldy politics, its grossly oversold stock markets and smartly recovering economies are offering a broad array of solid asset values.
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"It's a melt-up of a very oversold sector," said Jeremy Klein, chief market strategist at FBN Securities, noting a combination of short-covering and speculation supporting gains in biotech stocks.
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The reason is that Boeing is oversold for next year, meaning the manufacturing giant would likely be able to sell those planes to another carrier if the Iran deal falls through.
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"Prices have dropped significantly and very rapidly so it's quite reasonable to have some kind of upward adjustment," Richard Lu, analyst at CRU consultancy in Beijing, pointing to an "oversold market".
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That was the highest settlement for both contracts since May 30, putting them into technically oversold territory near their 200-day moving averages, which traders called a point of technical resistance.
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"Of the last 10 occasions when this oscillator has shown oversold readings — meaning gold's due for a bounce — nine of them have ended up giving you a nice rally," Cramer said.
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Stocks could be poised for a quick but not lasting rally, said Jeff Saut, chief investment strategist at Raymond James Financial in St. Petersburg, Florida, as many stocks are currently oversold.
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"There are some beneficial effects of stretching, but they are very small and have been oversold," said Rob Herbert, one of the authors of these studies and a leading stretching expert.
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HIGHER ODDS Goldman Sachs has raised its odds of a no-deal Brexit to 25% from 20%, but analysts from Swiss bank UBS predicted the market might prove to be oversold.
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But having bounced from a "very deep oversold condition," it's too soon to say "this is a sea change for the sector," warns Ari Wald, head of technical analysis at Oppenheimer.
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He faced accusations that he had oversold Mr. Trump on Mr. Kim's willingness to give up his nuclear weapons, even as North Korea accused him of working on behalf of Washington.
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Still, the 2017 scandal in which police dragged a doctor off of an oversold flight — and the airlines' response — is likely to be another hallmark of his time at the helm.
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The stock itself has become "tactically oversold at the lower end of its trading range," said Wald, which presents a bit of good news for the beaten-down athletic wear manufacturer.
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Those gains came despite slightly softer German inflation numbers and euro zone sentiment data, and analysts said the euro's rebound was largely because traders felt it had been oversold last week.
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But now it's gotten to the point where it's very oversold, it's very over-hated and it's very underowned," Maley, his firm's chief market strategist, said Tuesday on CNBC's "Trading Nation.
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"We believe the [UPS] shares have been oversold and find it the most attractive dividend play in large cap U.S. transportation," analyst David Ross wrote in a note to clients Tuesday.
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I think this group is dramatically oversold, but I will tell you: about 20 to 25 percent higher, you're going to have to exit because it's just not that kind of market.
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But between its weekly and monthly charts, Lang said several measures of buying and selling pressure indicated that the index was more overbought than oversold, meaning there could still be weakness ahead.
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"Yesterday, the proprietary oscillator I follow hit negative 8003, signaling that the market had gotten oversold, which is why I told you it was time to buy," the "Mad Money" host said.
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"We have seen the high net worth and institutional investors taking opportunity of the oversold market and are grabbing fundamentally sound shares," said Yohan Samarakkody, head of research, SC Securities (Pvt) Ltd.
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Even after the dismal start to the year, the second half of January has offered little refuge as volatility levels and profit-taking pressures remain elevated despite oversold conditions on Wall Street.
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Following China's accession to the WTO in 2001, which was oversold to the U.S. public with promises that trade would lead to motherhood and apple pie in China, these problems only grew.
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United Airlines CEO Oscar Munoz said the company will investigate how it moves crews and deals with oversold flights, as well as how it works with airport authorities and local law enforcement.
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"It's a lot easier to do it from a neutral position, and that's really our investment and trading call; we just want to be market neutral until those things get oversold enough."
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His ear for talent is oversold, too; he berates his A&R staff for not signing ABBA after he has heard just three bars of "Ring Ring", the Swedish pop group's single.
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"The other tell-tale sign that futures may have been oversold is the sell-off had not been matched by weaker physical sugar prices in Brazil," the bank's analyst Paul Deane added.
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"I think the market was way, way oversold, way too fast and therefore there's this natural bounce," said Ken Polcari, director of the NYSE floor division at O'Neil Securities in New York.
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Crude prices tested several floors of support in the low forties, and both the Williams oscillator and Relative Strength Index showed it could have more room to fall before truly being oversold.
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"Typically, in bear markets, you get these oversold bounces and that serves to pull people in before they roll over again," Adam Sarhan, CEO of Sarhan Capital, said in a phone interview.
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But if you use "bananas" as a signal to potentially anagram, and notice that ROD LOVES is eight letters, then you can deduce that RODLOVES, anagrammed, is peddled too many, or OVERSOLD.
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"I think the underappreciated point for us is the market is coming off cyclically oversold levels." in the past 52 weeks, the S&P has moved higher by just 2.75%, he added.
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Tran says he thinks oil is oversold as a physical commodity, but unfortunately for him, and for many energy companies and traders, none of the current dynamics are likely to change soon.
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"I would consider it terribly imprudent to step into an unhedged position, in a still-overvalued market with unfavorable market internals, just because short-term market action is highly oversold," he added.
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Traditional signs of capitulation — extreme oversold conditions (RSI), new lows at the NYSE (nearly 1,000), high put/call ratio, extreme readings in the VIX, junk bond outflows — are all flashing "buy" signals.
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Air New Zealand led gains, bouncing back after six sessions of losses as investors began to consider the stock might have been oversold and ahead of the company's investor roadshow on Tuesday.
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Remember, Apple had already been declining before the broad market rolled over last week, and thus the stock is more oversold than the S&P 500 right now in the short term.
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While it is legal for airlines to involuntary bump passengers from an oversold flight when there are not enough volunteers, it is the airline's responsibility to determine its own fair boarding priorities.
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"Basically the zinc market short term got oversold, so consumer buying has seen (it) rally," said Marex Spectron metals analyst Alastair Munro, who sees more selling risk ahead for base metals near term.
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"The pound had been oversold so it's naturally that it bounced back, but as the Brexit situation remains unclear going forward it's too early to say the pound's weakness has ended," said Ishizuki.
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"I think short-term it was just oversold but right now we're flirting with the 50-day moving average, an easy point for it to bounce," said Adam Sarhan, CEO of Sarhan Capital.
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The panic sell-off that ensued after the surprising Brexit vote last week placed a number of U.S. stocks in oversold territory, providing a potential buying opportunity using statistics-based methods of trading.
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But the inverse can also be true, as a stock can also fall so fast that investors should expect it to snap back because it is technically oversold, says the "Mad Money" host.
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So, with the oversold condition [and the stock] testing key support, if it can bounce off this level, it could be a much bigger bounce than a lot of people think is possible.
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"There are some beneficial effects of stretching, but they are very small and have been oversold," said Rob Herbert, one of the authors of these studies and a leading stretching expert in Australia.
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"We're a buyer of Goldman Sachs here for a trade on the 18 percent pullback into oversold conditions, with the stock sitting atop key support at that 200-day moving average," he concludes.
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"While this is certainly an indication of recent weakness, it may also be viewed upon as a source of near-term optimism, since it implies that the market may be oversold," Stovall said.
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Read More Saut expects bottom next week, then stock rally "Shorter term, investors may find a trading opportunity given extremely oversold conditions evident in financials and extremely overbought conditions in telecom," Adams said.
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To be sure, overreaction in oil markets tends to be the norm rather than the exception, and the view that oil is now far oversold does not mean that a recovery is imminent.
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The RSI reached a peak of 90.6 in November last year, before dropping to just below the 30-level that indicates oversold territory in April this year, just as the price rally started.
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"We expect equity indices to recover in Q2 from oversold levels, followed by low single-digit quarterly declines in the second half," said Roland Kaloyan, head of European equity strategy at Societe Generale.
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The relative strength index, a classic momentum indicator in gauging whether a security is "overbought" or "oversold," measures the speed and range of average gains and declines over a given period of time.
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"Sterling looks oversold right now (and) providing Brexit talks don't go too badly, markets should price out some of the tail risks still embedded in it," said Philip Shaw, chief economist at Investec.
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"A technical indicator shows that the market is oversold, and investors will likely shift attention to companies, which are likely reporting strong earnings," said Yutaka Miura, a senior technical analyst at Mizuho Securities.
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"The only thing that the bulls really had going for them is that we were getting oversold and the the Dow [Jones Industrial Average] had been down for eight straight days, " he said.
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He left in mid-2018, disillusioned both by the nitrogen pollution and concerns that Harper had oversold the lab's capabilities to funders, when it was struggling with a basic ability to grow plants.
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From a Tesla investor point of view, the negative aspects of the merger were oversold: the stock tanked in late 2016 but by mid-2017 it was surging toward record highs, nearing $400.
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For some perspective, the S&P 500 could rally 10% from here and still prove nothing more than it's bouncing from extraordinarily oversold conditions, retracing merely half the recent peak-to-trough drop.
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A reading of 200,000 or more could reverse some of the negative sentiment toward the U.S. dollar and spur a "short-covering rally in the deeply oversold buck," Schlossberg wrote in an email.
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TOKYO, Jan 13 (Reuters) - Japanese stocks rebounded sharply on Wednesday and posted their first gains of 2016 after better-than-expected China's trade data soothed sentiment and a weaker yen lifted oversold exporters.
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NEW YORK (Reuters) - U.S. stocks jumped on Thursday, giving the Nasdaq its biggest daily gain since March, as Microsoft's upbeat earnings spurred a rebound in technology names and investors snapped up oversold shares.
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"We had an initial selloff on the complex and we managed to reverse that with some oversold characteristics," said Sid Mokhtari, a market technician and director of institutional equity research at CIBC World Markets.
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News that Facebook had long oversold a key metric in how it quantified video views had shocked marketers, and the social network had deployed some of its most prominent executives to do damage control.
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Some analysts say OPEC is trying to boost prices with its talk of a meeting, and RBC analysts believe oil had been oversold and may have found a new bottom, thanks to that chatter.
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Read More Pro Uncut: The full interview with Marc Lasry Given what traders call "extreme oversold levels," market watchers like Friedlander predict a relief rally for the S&P 500 in the days ahead.
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This week's gains created a "consolidation phase" that "reflects improved short-term momentum in a muted reaction to widespread short-term oversold 'buy' signals," BTIG Chief Technical Strategist Katie Stockton said in a note.
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Even with the rebound, Australian bank ANZ said Wednesday it believes 2016 and 2017 futures are undervalued and have room to gain to average 15-17 cents per pound as they have been oversold.
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"I think it's a bit of recovery from oversold levels and I think we also got a shot in the arm with Asia markets overnight up and really having a solid day," Kinahan said.
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"Even if Brexit fears are keeping selling interest intact, oversold levels are likely to keep downside potential limited for now," Credit Agricole analysts said in a morning note based on their own positioning analysis.
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But while one should always be wary of trying to catch a falling knife, there are some signs that the rapid decline in prices in recent months has moved the market into oversold territory.
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"In a positive case scenario, Uber may be oversold with a basket of 2019 IPOs as the Street has lowered its risk tolerance in 2019, and risk appetite could return in 2020," Post wrote.
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For one, the S&P 500's Relative Strength Index, which measures how overbought or oversold a stock or index is at a given time, just reached 80 for the first time since 2007.
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Earlier, the sentiment index in gold was indicating it was strongly oversold while the dollar was heavily overbought as U.S. inflation measures were rising, said Gianclaudio Torlizzi, partner at consultancy T-Commodity in Milan.
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Concerns about oil and other commodities have been "oversold," and even those most exposed to the risks of a U.S.-China trade war are worth buying, Goldman Sachs said in a Wednesday research note.
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As the S&P 500 approached and crossed that mark, the Relative Strength Index, a key indicator that signals when stocks are overbought or oversold, was screaming that the index had gotten extremely overbought.
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"He wants to retain the positive — if oversold — image China earned by stepping up to the plate alongside the United States," said Elizabeth C. Economy, a senior fellow at the Council on Foreign Relations.
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The "Mad Money" host, who has yet to be convinced that a recession is inevitable, turned to his favorite overbought/oversold gauge — the S&P's proprietary short-range oscillator — to make his investment case.
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Even though the "meme magic" narrative has been grossly oversold, it's worth considering just how seriously the right takes its shitposting, and how impotent the left's attempts to engage in meme warfare have been.
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The concrete material interests of a small minority of people may be harmed by immigration, and their interests certainly matter, but the size of this group is drastically oversold by the anti-immigration community.
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"As deeply oversold as they were, traders are beginning to wonder how much more bad news there could possibly be coming," Norcini said, citing weather and trade tensions between Washington and top U.S. export markets.
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"An oversold bounce is likely to interrupt the pullback in the SPX today, but we think it will fade on weak short-term momentum," BTIG Chief Technical Strategist Katie Stockton said in a morning note.
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With stocks oversold in reaction to Trump's threat to slap tariffs on imports from Mexico, the major indexes went on to stage their biggest rallies of the year in the first trading week of June.
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Without getting into the statistical weeds, it's another "oversold" condition, one that says traders are paying up aggressively for a possible sudden spike in market risk, despite the still-placid behavior of the indexes themselves.
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John Woods, chief investment officer for Asia-Pacific for private banking and wealth management at Credit Suisse, told CNBC's Squawk Box that markets are heavily oversold currently and will likely exercise a powerful technical rally.
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In addition, a tool called the Williams percent R oscillator that measures the overbought or oversold condition of a stock showed Celgene shares inching toward overbought territory, which suggests that it could be regaining momentum.
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"Silver's near-term oversold condition might be making it ripe for a short-term bounce," Maley wrote, but until its positioning changes, it may be difficult for the commodity to see a longer-term bounce.
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" Cramer Remix: This stock could be a heartbreaker Cramer: China could fall another 28% Cramer: Market oversold—start picking these stocks CVS Health: "Listen, you like CVS because CVS is an incredibly well-run company.
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"The market probably came in a bit oversold this week, which traditionally on a Thanksgiving week, is very unlike what it usually does," said Larry Benedict, founder of The Opportunistic Trader in Boca Raton, Florida.
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"I can't attribute all the stabilization in the stock market to the fact the economic data has stabilized because the market was oversold and there was some forced selling and that has dissipated," he said.
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"The initial, gut reaction that people think is ... when you're overbought for a long time, the market's going to revert to the mean, and conversely that's going to be followed by oversold readings," he said.
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Starting with the small-cap-heavy Russell, Maley pointed to the main indicator driving his worry: the relative strength index, or RSI, which tracks a stock's momentum trends to determine whether it's overbought or oversold.
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The "Mad Money" host, who has yet to be convinced that a recession is inevitable, turned to his favorite overbought/oversold gauge in the S&P's proprietary short-range oscillator to make his investment case.
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"On the other hand, when we look at Target, that stock had gotten overbought earlier in November, rolled over and is now very, very oversold," which, to technicians, can signal a buying opportunity, Maley said.
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"The RSI of the weekly 10-year yields chart is hovering at about 74, which means yield is overbought or the bond market is oversold to a rather stretched position and could correct," said Ciana.
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The market also bounced because it was "insanely oversold," Cramer said, citing a minus-24 read on the S&P oscillator, a lower measure than during the 1987 crash, and the renowned technician Larry Williams.
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"With these stories coming out, you have a sector which has been very oversold meeting some potential good news on the trade war front," said Bank of America Merrill Lynch European equity strategist James Barty.
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Short-term, though, we're due for a bounce, we're that oversold, ... but we're in the hands of the Fed, and if it screws up, then the Grinch will be paired with the bear to steal Christmas.
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"Broadly the UK banking stocks didnt have a great time last week... It could be just a case of on a quiet day, people fishing about thinking that perhaps the banks are being oversold," Campbell said.
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Apple's stock has risen 11 percent since its quarterly report last Tuesday, with investors betting it was oversold following months of concern about a slowdown in iPhone demand, and the company's rare revenue warning on Jan.
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"But even if a technical reprieve could be in store, potential USD strength and mild market sentiment despite a significant plunge suggest any oversold relief will be transient, and fraught with bouts of volatility," he said.
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BTIG Chief Technical Strategist Katie Stockton said in a morning note that the rally in the S&P futures Tuesday morning could be the beginning of an oversold bounce that might last one to two weeks.
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The table below shows the number of standard deviations the stocks are below their 50-day moving average and the chances they move higher this week based on their history of trading at these oversold levels.
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In his 2003 book "Oversold and Underused: Computers in the Classroom," education researcher Larry Cuban warned that technology on its own would not solve "education's age-old problems," such as inequitable funding, inadequate facilitiesand overworked teachers.
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That is why he decided to focus on the technicals of a stock, especially when it comes to determining if a stock is overbought and ripe for a pullback — or oversold and ready for a bounce.
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This year's first quarter certainly benefited from an oversold bounce back, after the fourth quarter's dramatic, near 14 percent slump, so some analysts say the second quarter could be higher, but not by nearly as much.
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"Broadly the UK banking stocks didn't have a great time last week... It could be just a case of on a quiet day, people fishing about thinking that perhaps the banks are being oversold," Campbell said.
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"The stock market was dragged down by a wave of heavy selling, taking many shares to multi-year lows, so technically it was oversold," said Mohammad Al-Shammasi, chief investment officer of Riyadh-based Derayah Financial.
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"The consumer remains confident and given that consumers drive two-thirds of the economy, that to me says, perhaps the news of a slowdown may be oversold," said Brad McMillan, Chief Investment Officer for Commonwealth Financial.
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Investors should buy the S&P 343, Chinese stocks, German stocks, U.S. small-caps, semiconductor and energy shares, U.S. and European high-yield bonds and emerging currencies, all of which are "very oversold," the strategists said.
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The first is the company's marketing and sales practices, including targeting populations like veterans and children, and using patient front groups and high-profile doctors who oversold the benefits and downplayed the risks of the drugs.
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"Raj Shah and his people at USAID oversold it, lied to the taxpayer and the American and Afghan people about what we could accomplish," Mr. Sopko said, referring to the USAID administrator when Promote was started.
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That barrier is a recommended free audio guide whose moderately nifty engineering (a binaural stereo technology oversold as "3-D" sound) hardly compensates for its insulting soundtrack of actors portraying awe-struck ambassadors and gossiping aristocrats.
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This will include a thorough review of crew movement, our policies for incentivizing volunteers in these situations, how we handle oversold situations and an examination of how we partner with airport authorities and local law enforcement.
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NEW YORK, Oct 73 (Reuters) - U.S. stocks jumped on Thursday, giving the Nasdaq its biggest daily percentage gain since March, as Microsoft's upbeat earnings spurred a rebound in technology names and investors snapped up oversold shares.
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"Even though the dollar is stronger and Treasury yields are higher, the gold market oversold itself yesterday, and now we're recovering a bit," said Walter Pehowich, executive vice president of investment services at Dillon Gage Metals.
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And now his oversold promises are being exposed for the lies they were — draining the swamp in Washington, forcing Mexico to pay for his ridiculous southern border wall, the incredibly defective Obamacare repeal and replacement proposal.
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Target's full stochastic oscillator, which technicians use to tell whether a stock is overbought or oversold, is in "extremely overbought territory," meaning it could be due for a pullback after a rapid run higher, Cramer said.
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But some remain bullish yet — Japan's MUFG views Brent and U.S. West Texas Intermediate (WTI) to be "oversold," predicting a "sharp rebound" in coming months, while Societe Generale forecasts Brent at $73 for both 13 and 2019.
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"Going into this past winter, everyone thought El Nino was going to save the day, " Margulis said, specifically referring to media coverage that called El Nino a "drought-buster," or oversold its ability to ease the drought.
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Read More China, oil still hanging over Wall Street "Maybe a little stability is (helping) to bring out some buyers in the context of an oversold market," said Peter Boockvar, chief market analyst at The Lindsey Group.
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And with stocks being at their most oversold since 2011 — Cramer has no choice but to presume this is just like 2011 when it looked like Greece, Italy, Portugal, Spain and Ireland could bring the U.S. down.
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TOKYO, Jan 22.8 (Reuters) - Japanese stocks rebounded on Wednesday morning as the oversold market saw buying across all sectors, with sentiment helped by China's efforts to stabilise its currency, even as oil fell below $975.643 a barrel.
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Analysts pinned the gains on short-term production curbs in China's biggest steelmaking city and an "oversold" market after a selloff that has left some commodities nursing losses of more than 20 percent in just five weeks.
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In a new interview with Esquire, the Harlem rapper was extremely candid about being a staple in the worlds of fashion and rap, but also completely oversold us on another venture he's apparently really good at: sex.
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"And then we start hearing from women's groups in Afghanistan, from everybody from Rula Ghani on down, that this program is poorly designed and oversold," he said in an interview on Tuesday, referring to Afghanistan's first lady.
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He habitually oversold himself -- insisting he was smarter, richer, and more accomplished than he was -- and he has become an old man who can't bear hearing of a reality that conflicted with the fantasy in his head.
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The Department of Transportation requires airlines to give involuntarily bumped passengers "a written statement describing their rights and explaining how the carrier decides who gets on an oversold flight and who doesn't," according to its consumer guide.
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Don Jr. and the campaign have largely dismissed the meeting as a one-off that came about on the false promises made by a bumbling music manager and a lawyer who oversold her connections to the Kremlin.
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" The hotel's general manager, Chris Offutt, said that "during oversold situations, which are infrequent and largely due to high demand in the area, the hotel works to ensure guests are comfortably accommodated at a nearby comparable hotel.
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"The Bank of China came out with some measures for stimulus and therefore some of the more cyclical stocks are bouncing off oversold levels," said Will James, senior investment director for European equities at Aberdeen Standard Investments.
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"We were due a recovery, as the markets were oversold... but the underlying story hasn't really changed, and people don't want to take risks heading into the weekend," said Mike McCudden, head of retail derivatives at Interactive Investor.
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That's why tomorrow's meeting is so darn important — the wrong decision could be disastrous for stocks, but the right decision will create, let's say, a more positive backdrop and perhaps even an oversold rally that lasts into 25.
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"In the face of weakening global growth ... it's difficult to find reasons to commit money at this point even if one is bullish," he said, adding that he expects stocks to rebound from these oversold conditions next week.
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While Monday's sell-off took the Dow down over 750 points, the strategist says even more extreme oversold conditions could put the market back on track, especially given that stocks had looked overbought in the last few months.
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The CNBC "Fast Money " trader illustrated that, while oil has been in a bear market during the past month, investors have bought into the commodity amid oversold conditions during the past week leading to gains of 8 percent.
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The key to the strategy is the combination of betting on sustained excellence from one group and the idea that many of the beaten-up companies are oversold based on problems that will eventually be solved, Stovall said.
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"While it is legal for airlines to [involuntarily] bump passengers from an oversold flight when there are not enough volunteers, it is the airline's responsibility to determine its own fair boarding priorities," the DOT said in a statement.
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"The long rout in commodity prices has hit debt and equity securities issued by metal and mining companies, with many securities looking oversold and therefore attractive if commodity prices do not fall significantly from current levels," he said.
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"This is basically an oversold bounce and typically when those happen, we retrace back to the midpoint of the previous area," said Peter Ruud, technical analyst at Informa Global Markets in New York, referring to the $33.54 level.
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" The U.S. Department of Transportation states that each airline must "give all passengers who are bumped involuntarily a written statement describing their rights and explaining how the carrier decides who gets on an oversold flight and who doesn't.
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Insurance companies have too often oversold worst-case situations, plying people with more coverage than they need at higher premiums, said Anthony Webb, the research director at the Retirement Equity Lab at the New School for Social Research.
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"Historically, I haven't made much money buying stocks when the oscillator's at eight, in the same way I haven't made much money selling stocks when it's at minus eight — a classic sign that we're extremely oversold," Cramer said.
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The market will need to be "much more oversold" before that determination can be made, he said, and more information needs to be had regarding the coronavirus' incubation period, how it is transmitted and how to combat it.
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He said that the market is "not that oversold" and pointed to a number of unknowns, including the coronavirus spreading from Milan to the United States, delays in a potential vaccine, as well as companies preannouncing EPS weakness.
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The fact that the percentage of NYSE stocks above their 200-day moving averages has fallen to 50 percent — "on par with the lowest readings of the 2003-2007 advance" — shows that equities are currently "oversold," Wald wrote.
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"Overall, aside from the need to base over the near term, we do see these deeply oversold conditions as presenting a long-term opportunity, but we think the opportunity is in large caps and not small," he added.
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Investors, who have been hoping that stocks were primed to bounce because of the market's oversold conditions, are looking for confidence from the fourth-quarter earnings season set to begin in earnest later this week with major banks reporting.
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"It's become a matter of buyers remaining interested in continuing to buy stocks that they feel have been oversold and a lack of sellers' supply," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
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Stocks got "very oversold" on Friday amid a and technology-led weakness, he said, noting that the paid S&P oscillator he follows hit the minus-5 level during Friday's trading, a signal that the selling was too rash.
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United's decision to have airport security remove a man from his seat to make room for employees overshadows the broader trend in 215, when airlines forced only six out of every 2000,29.9 passengers to surrender seats on oversold planes.
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That will likely change in 2020, after last year's wake-up call—though conservative pundits like Sean Trende are worrying aloud about Republican complacency: People grossly oversold GOP vulnerability in TX pre-Trump and are grossly underselling it now.
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"I have long maintained that the emerging-market hype was oversold when it was clear that what was going on was high commodity prices and cheap money," said Dani Rodrik, an expert on globalization at the Harvard Kennedy School.
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"The catalyst, I think, to start getting some trades in (late) was oil prices stabilizing, and just the fact that short term we were oversold," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
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"While it is legal for airlines to involuntary bump passengers from an oversold flight when there are not enough volunteers, it is the airline's responsibility to determine it's own fair boarding priorities," a DOT spokesperson said in a statement.
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"I think you can make a case that a lot of stocks are oversold, and therefore they should be drawing some buyers from the sidelines," said Bucky Hellwig, senior vice president at BB&T Wealth Management in Birmingham, Alabama.
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"We think that one should start to re-enter the shorts," JP Morgan strategist Mislav Matejka said in a research note, pointing out that from a technical standpoint equities were now closer to overbought, rather than in oversold territory.
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Read More Trading the market's 7 most hated stocks These are the oversold stocks and their five-day average move when they traded this many standard deviations below their 50-day moving average in the past, according to Kensho.
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Naeem Aslam, chief market analyst at trading firm ThinkMarkets, said the bounce in oil prices earlier on Monday was largely due to technical signals, as oil prices fell into oversold territory, meaning they were trading below their true value.
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Spirit's performance may also explain why the overall complaint rate for airlines was up 47 percent last year, although the industry had more on-time arrivals, did a better job handling bags, and bumped fewer passengers from oversold flights.
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"The metals group had been oversold over the last few days and the trade war news may have prompted some short covering after the two presidents agreed to meet at the G20 Summit," said INTL FCStone analyst Edward Meir.
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ZINC: Morgan Stanley said zinc was oversold in the first half of the year but is expected to rebound in the remainder of the year due to its deficit and because the peak demand season is about to start.
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"While I think that the value rotation will start to favor value stocks and some of these companies are oversold relative to the oil price, the actual oil price is probably still on a downward trajectory," said Sanchez. Disclaimer
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Frank Clemente, executive director of Americans for Tax Fairness, said that Republicans "oversold the tax plan," since many people are getting a fairly small tax cut and most people haven't gotten more money or benefits from their employers. Rep.
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"I think we are witnessing an oversold rally that could be sowing the seeds of its own demise as it bulls its way higher to levels that just don't make a lot of sense given the fundamentals," Cramer said.
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NEW YORK, Aug 7 (Reuters) - The S&P 73 recovered from steep early losses to end slightly higher on Wednesday as investors snapped up oversold shares and bond yields rebounded from significant lows that raised fears about a recession.
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"While it is legal for airlines to involuntary bump passengers from an oversold flight when there are not enough volunteers, it is the airline's responsibility to determine its own fair boarding priorities," a DOT spokesperson said in a statement.
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"Crude was wildly oversold, with a Relative Strength Index which got below 14, the lowest I've ever seen for any commodity, and we've now decided that maybe the global economy isn't going to come to an end," he said.
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"We were oversold and we bounced," said Jeff James, a portfolio manager at Driehaus Capital Management in Chicago, crediting the optimism about actions from the Fed and optimism about Congress' stimulus bill for the rally earlier in the week.
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As the sell-off took hold last week, UBS Global Wealth Management highlighted to clients a chance to add stocks in the two of the firm's favored sectors - U.S. consumer discretionary and U.S. communication services - calling the sectors oversold.
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In August, a judge ordered the company to pay $572 million (later reduced by $107 million because of a miscalculation) to Oklahoma after finding that Johnson & Johnson intentionally played down the dangers of opioids while it oversold their benefits.
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Not only that, but Sluymer also points out that the relative strength index (RSI) of bitcoin indicates it is now "very oversold," which may prove to be a buying opportunity for the cryptocurrency, but investors need to be careful.
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The action over the next couple of weeks will be important because it will tell us whether the recent bounce has legs ... or if it was just a dead cat bounce that worked off its near-term oversold condition.
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The research firm said AirAsia's stock has been oversold, and presents a good buying opportunity when oil prices and the stabilize — even though it has limited fuel hedging and most of its overseas joint venture carriers were loss-making.
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"[Hilton's] weekly RSI chart is actually ... more oversold, more extreme than it was at the last two bottoms back in 2018 and 2016," he said Thursday on CNBC's "Trading Nation," referring to the stock momentum-tracking relative strength index.
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Technical analysts and those looking to marshal the evidence for a bullish stance keep citing a rare "breadth thrust" registered as the rally accelerated — a measure of how quickly the market rushes from extremely oversold to a "buy everything" stampede.
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"Here's the problem: despite the recent meltdown, Garner points out that the oil futures, amazingly, are still not oversold, meaning they haven't actually gone down so far so fast that they're due for a bounce," the "Mad Money" host said.
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Domestic travelers aren't subject to compensation for traditional flight delays—but tarmac delays and involuntary boarding denials (which happen when your flight is oversold and you're forced to give up your seat) can warrant a payout of up to $1,350.
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"After prices hit the depth of the sewer this week, and (were) arguably in oversold territory, traders were always going to be predisposed to book profits ahead of the weekend," Stephen Innes, managing partner at Vanguard Markets said in a note.
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Andrew Keene of AlphaShark made his call on the SPDR S&P Oil & Gas Exploration & Production ETF (XOP) with help from the Relative Strength Index, a benchmark used by technical analysts to determine when an asset is oversold or overbought.
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Though the consensus view is that in the case of a Donald Trump victory the market will experience a sell-off, Lee instead believes that regardless of who wins, U.S. markets are actually oversold and are poised for a rally.
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"We need to see some kind of breakout of course from this range for a positive long-term technical catalyst, but Netflix is oversold after having underperformed, so it's at this proving ground right now on its chart," she said.
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LONDON (Reuters) - With 63 percent of MSCI's global index now in a "bear" market, world stocks look oversold but global equity funds nevertheless attracted inflows of $8.5 billion over the past week, Bank of America Merrill Lynch said on Friday.
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Support, is as the name implies, an area where the selling may slow, even subside and if that's at an oversold area, with too many newbie shorts betting against the stock, an area that we might expect a sizable bounce.
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This subtle but noteworthy change in market character means we're again at a point where market handicappers are asking whether the market's internal weakness has been dramatic enough, with enough "oversold" conditions popping up, to set up a strong rebound.
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"The short term geopolitical impact will likely fade but( gold) was oversold on expectations of rate hikes and the reality of muted rate hikes sets up the potential for (further) upside, " said Hamza Khan, head of commodities strategy at ING.
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Deutsche Bank said in a note Tuesday that the stock looks oversold in a reaction to operating earnings that missed expectations and overly conservative guidance; it reiterated a Buy call and said it saw "meaningful upside" to fiscal 852.213 earnings.
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"The kiwi was oversold on fiscal uncertainty and about what the Labour-led government would be enacting, so the market was short, and prone to squeezes," said Sue Trinh, head of Asia FX strategy at RBC Capital Markets in Hong Kong.
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United Airlines hopes more cash, better training and fewer oversold flights will help the airline avoid a repeat of the controversy and public relations disaster that erupted after a passenger was dragged off one of its flights earlier this month.
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Cramer Remix: This stock could be a heartbreaker Cramer: China could fall another 28% Cramer: Market oversold—start picking these stocks Cramer reminded investors that there will be no bell that goes off and tells you when the coast is clear.
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Cramer Remix: This stock could be a heartbreaker Cramer: China could fall another 28% Cramer: Market oversold—start picking these stocks Cramer was also glad to see that China, for once, didn't stand in the way of the U.S. averages.
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Delta, which also now offers a maximum of $10,000 to bumped passengers, has had an auction-bidding system in place since 2011 that allows people checking in to oversold flights to say how much they'd be willing to get bumped for.
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The XLP "did not hit oversold levels at least as of yet which is a complete difference to what we saw in February and March, so that's a minor positive divergence which typically sets up a countertrend move," Cappelleri said.
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Some US officials think South Korean President Moon Jae-in, who met yesterday with Trump in the Oval Office, oversold Kim's commitment to denuclearization, and Trump also is convinced that China is to blame for the North's recent harsh tone.
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"The stock-bond relationship has changed through time but historically speaking going back to data from 1963 such oversold conditions in terms of interest rates has been followed by above-average returns looking at the S&P 500," Wald said.
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Friday's positioning data from the CFTC suggests the metal may be due for a bounce, analysts said "With prices near the bottom of the recent one-year range, platinum is now in the oversold box," Societe Generale said in a note.
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The distraction in "Visitors to Versailles" comes from a recommended free audio guide whose moderately nifty engineering (a binaural stereo technology oversold as "3D" sound) hardly compensates for its insulting soundtrack of actors portraying awe-struck ambassadors and gossiping aristocrats.
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Since the abrupt end to the Hanoi talks, questions have been raised in the South about Mr. Moon's role in the American-North Korean dialogue, with critics arguing that he had oversold Mr. Kim's willingness to give up its nuclear arms.
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Look for oversold companies: "In the US, we suggest focusing on high-quality companies that can weather continued volatility but are also positioned for upside if markets experience a more durable recovery in the communication services and tech area."3.
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The company was at one point valued at $9 billion, but its reputation and its CEO came crashing down after a series of Wall Street Journal reports in 2015 that Theranos may have significantly oversold and under delivered on its promises.
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"The nickel price was probably oversold at the end of last year, when the market was worrying about global trade," TRADE: The trade dispute between China and the United States has fuelled concern about global growth and demand, undermining sentiment in metals markets.
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"Given U.S. scepticism that South Korea may have oversold Kim's willingness to denuclearise, how President Moon delivers his sincerity toward denuclearisation to Trump would be a key factor for the fate of their second summit," Lee told a forum on Monday in Seoul.
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Stocks got "very oversold" on Friday amid a plunge in oil prices and technology-led weakness, said Cramer, noting that the paid S&P oscillator he follows hit the minus-5 level during Friday's trading, a signal that the selling was too rash.
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Peter Hänggi, a vocal critic at the University of Augsburg in Germany, thinks the importance of information is being oversold by ex-practitioners of quantum computing, who he says mistake the universe for a giant quantum information processor instead of a physical thing.
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"I think it's worth sitting tight on your index funds here, because someday, we will bottom, and you don't want to feel like an idiot for dumping all of your stock exposure right into the teeth of this oversold decline," Cramer said.
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"It wouldn't surprise me at all that once it works off that oversold conditions it rolls back over, and if it breaks below that pattern, it could be a quick move down to the $300 level, which was the December lows," he said.
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Index technicals also suggest a bounce in the near-term as the relative strength index (RSI) shows an oversold reading and the wave pattern suggests the index is not expected to breach the March 23 low of 9951.9 points in the near-term.
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"Powell's remarks were not particularly ground breaking but it appears to have helped the dollar just as U.S. equities are recovering after being oversold on earlier risk aversion," said Shusuke Yamada, currency and equity strategist at Bank of America Merrill Lynch in Tokyo.
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The index moved into neutral territory on Friday for the first time in the last 12 sessions after being in the oversold zone, with the 14-day relative strength index ending at 34.747 on Friday, compared with Thursday's 25.530, Thomson Reuters data showed.
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Although economists did underestimate the importance of financial regulation in the run-up to the crisis, and oversold the benefits of whizzy new instruments, blaming them for failing to spot something that even financial supervisors had only partial knowledge of seems unfair.
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"I think Mexican shares and currency have been oversold," said Riedel, adding he didn't think most of Trump's proposed policies toward Mexico would get implemented and the ones that do would look very different from what was said on the campaign trail.
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LONDON, Nov 9 (Reuters) - Emerging market stocks buying surged to its highest since February in the wake of this week's U.S. midterm elections, Bank of America Merrill Lynch said on Friday, adding that global markets had now bounced out of "extremely oversold" territory.
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"I'll say it's oversold on a short-term basis, though I am an oil bear," said Tariq Zahir, who trades mostly longer-dated spreads in U.S. West Texas Intermediate crude futures (WTI) for the Long Island, New York-based Tyche Capital Advisors fund.
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It looks like Delta has seen what happened with United Airlines' overbooked passenger fiasco and is making some serious changes to its compensation policies — serious as in way more cash monies to entice volunteers to give up their seats on oversold flights.
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Cramer Remix: This stock could be a heartbreaker Cramer: China could fall another 28% Cramer: Market oversold—start picking these stocks To determine if a P/E ratio is suspicious, Cramer said to keep in mind that valuing stocks has two components.
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"I think the bond market had become very much oversold very, very quickly [late last year], and a lot of that sentiment was really based on expectations as opposed to reality, and now we are seeing expectations are being pulled back," Lipton said.
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"The nickel price was probably oversold at the end of last year, when the market was worrying about global trade," TRADE: The trade dispute between China and the United States has fueled concern about global growth and demand, undermining sentiment in metals markets.
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The opening works through understatement — the shock and awe of the disaster that wipes out the Capitol aren't oversold, and the confusion and fear of Kirkman and his wife (Natascha McElhone) as they're sped to the White House are deftly sketched in.
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In the wake of the Dao scandal, airlines have vowed to make changes easier to digest for travelers, increasing the amount of compensation or giving passengers advanced notice and the opportunity to rebook on the app, if a flight is cancelled or oversold.
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"After prices hit the depth of the sewer this week, and (are) arguably in oversold territory, traders were always going to be predisposed to book profits ahead of the weekend," Stephen Innes, managing partner at Vanguard Markets said in a morning note.
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"Against that increase in production profile, we are actually oversold… so we continue to feel very strongly about the airplane and now, as we feather in the 737 MAX 10, we're adding even more value into the market place," Boeing's Muilenburg told CNBC.
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"I believe the ice wall was 'oversold' in that it would solve all the release and storage concerns," said Dale Klein, the former chairman of the U.S. Nuclear Regulatory Commission and the head of an external committee advising Tepco on safety issues.
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Because of the extreme uncertainty, the usual internal signs of a market bottom — extreme oversold conditions, the CBOE Volatility Index way elevated to the highest level since the financial crisis, 90% downside volume days — all of which have happened — are not considered reliable.
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A trader at a foreign bank said the market was a little irrational and oversold dollars in the previous session and he now expects the yuan to trade in a wide range of 6.87 to 6.92 per dollar in the near term.
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"We are seeing a sort of rebalance happening, we are seeing some stocks that were unloved and oversold....having a very good day today on a (generally) negative day," said James McGlew, executive director of corporate stockbroking at Argonaut Ltd in Perth.
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So rather than being oversold, the projected benefits of FTAs to the United States tend to be understated, as was the case with NAFTA, which has been an overwhelming success for American agriculture and for many other sectors of the U.S. economy.
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"Given U.S. scepticism that South Korea may have oversold Kim's willingness to denuclearize, how President Moon delivers his sincerity toward denuclearization to Trump would be a key factor for the fate of their second summit," Lee told a forum on Monday in Seoul.
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Anyone bumped against their will may be entitled to compensation, with a requirement of up to $1,350, and must be given a written statement detailing their rights and explaining how the airline decides who gets on an oversold flight and who doesn't.
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It means that past campaign promises that he could single-handedly undo mass incarceration — like when he said in 2016 that "at the end of my first term, we will not have more people in jail than any other country" — were oversold.
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"Amid oversold conditions in a sector we believe can provide a source of defensive growth that is insulated from trade-related volatility and a recent pullback in the shares, we upgrade MRK to overweight," Atlantic analyst Steve Chesney said in a note to investors.
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The total was bolstered by strong first-month sales of Hello Games' much-hyped and heavily marketed "No Man's Sky," though SuperData noted the launch was plagued by bugs and received tepid response from gamers who felt they'd been oversold on promised game features.
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"The swing factor in the markets is oil, because although technical analysis shows that the majority of stocks are in oversold territory, as long as Brent remains below $2.03 investors will have no confidence in any type of analysis," said a Jeddah-based portfolio manager.
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In 2016, the number of passengers who were involuntarily denied boarding — meaning they did not choose to give up their seats on an oversold flight in exchange for compensation — fell by 15% for every 10,000 passengers based off of the same data from 2015.
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"I actually think that with the stock oversold and sitting on key support along with those 10-year yields that this is an interesting opportunity to enter the stock on the long side with a close protective stop around yesterday's lows near $210," Ross said.
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"We just want to identify situations where individual stocks in varied oversold states (RSI below 50) could see a catalyst in the form of upside earnings surprises," Strugger said, noting fundamentals or tax reform benefits didn't play a direct role in selecting the stocks.
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It's not that you can't make a reservation just because Mercury's in reverse; but if you do, opt for hotels that your friends can vouch for and try to pick itineraries that aren't at peak hours, so you don't wind up on an oversold flight.
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This can be viewed as a positive, because by Wednesday's close the market looks a good deal more "oversold" and washed out than was the case at the start of the January-February correction, which came with most stocks stretched far to the upside.
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After a widely publicized 2017 incident in which a passenger was dragged off an overbooked United Airlines flight, major U.S. carriers now offer hundreds to thousands of dollars in flight credits or cash to volunteers who willingly give up their seats when on oversold flights.
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Update Last week, an unaccompanied 15-year-old traveling from London to meet his grandparents in France was bumped from an oversold easyJet flight and essentially treated as an adult, left to deal with rebooking on his own, according to a report by the BBC.
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"There's a lot of contributors to the Sasol story... They had structural problems with having to cough up some more money, and their stock has basically been oversold, so we're seeing some of that recovery now," said Bright Khumalo, a portfolio manager at Vestact.
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Other ways of viewing the market also show it to be flashing "oversold" extremes, including Daily Sentiment Index readings for the S&P 500 that got below 10 percent last week, a sign that fear had replaced hope for more than 90 percent of tactical traders.
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According to Kensho, a quantitative tool used by hedge funds, the following stocks, ETFs and currencies are trading significantly below their average price of the last 50 days and have high odds of snapping back based on their history of trading in a similar oversold condition.
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"The issue is we've seen oversold bounces before in the KRE, and it hasn't done anything with it," Cappelleri said Tuesday on "Trading Nation," adding it's even more "glaring" that it has not managed to rally in the face of a rising 10-year Treasury note yield.
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"It was a huge rebound in performance from oversold conditions in December, largely driven by the fact that the worst fears earnings didn't come true, a very patient Fed and 100 months of consecutive jobs growth," said Michael Arone, chief investment strategist at State Street Global Advisors.
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"While the frequent provisions for the DoJ are unfortunate and tend to keep investors' focus away from Hapoalim's strong fundamentals, we see the shares as oversold on DoJ concerns and believe the market fails to account for Hapoalim's strong capital position," Barclays analyst Tavy Rosner said.
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"Emerging market currencies have moved a decent amount in the past month and as group they are stretched on simple technical indicators," Societe Generale analysts told clients in a note, adding that seeing emerging currencies in such an oversold situation since 2015 had normally sparked a rally.
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"Crude was wildly oversold, with a Relative Strength Index which got below 214.6, the lowest I've ever seen for any commodity, and we've now decided that maybe the global economy isn't going to come to an end," said Scott Nations, president and chief investment officer at NationsShares.
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Natasha herself has got heavy-duty Carhartt overalls on, looking like she's ready to hop on a tractor and till our fields, and it occurs to us that we might have oversold just how "dirty" things get when people come to make a Dirty Work column.
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I also think we're way too oversold to get hammered here, at least for now, but I respect Bob's opinion and you need to know that there has been substantial technical damage that's been done to this market, and after this respite, it might not be done going down.
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Zizek used the idea of kettle logic to describe how the administration of George W. Bush oversold the Iraq War with a surplus of arguments (Saddam Hussein had weapons of mass destruction, we were spreading democracy in the Middle East, Hussein had connections to Al-Qaida, and so forth).
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We're at My Slice Fest, enthusiastically billed as "London's biggest pizza and music festival," but as guests struggle to get even one solitary slice of pizza and the main stage plays host to a Rizzle Kicks-lite duo, it feels like the promoters may have slightly oversold things.
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"It would appear that an increasing faction views the sector as having seen the worst, on its way back from oversold and on the right track in terms of painful measures to correct structural issues," Mike van Dulken, head of research at Accendo Markets, said in a note.
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His 2000 book "The Tipping Point" endorsed the "broken windows" theory that aggressive policing of minor infractions can prevent more serious crimes; years later, as debates about mass incarceration came to the fore, he conceded that the theory was "oversold," and that he regretted his part in promoting it.
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"We go into the year on the proviso that the while the dollar may have become a little oversold and due a moderate correction, we favor the dollar structural depreciation to extend," Jeremy Stretch, currency strategist at London-based CIBC Capital Markets, told the Reuters Global Markets Forum.
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They sustained their first 217.4 percent dip in 218.3 months and the first 210 percent correction in two years then quickly regain their footing The held crucial index levels such as the 22018-day average and responded energetically to oversold conditions with a powerful bounce starting a week ago.
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At this juncture, the S&P 500 is more than one standard deviation below its 50-day moving average for the first time since just before the U.S. presidential election in November, a typical indicator of "oversold" conditions, Raymond James market strategist Andrew Adams wrote to clients Monday morning.
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SO IT'LL BE INTERESTING TO SEE AS THE U.S./MEXICO RELATIONS GET DEVELOPED UNDER THIS ADMINISTRATION, IS THAT OVERSOLD OR DO THOSE THINGS HAVE FURTHER DOWN TO GO. THERE WAS A STATEMENT BY THE RUSSIAN STATE AT ONE POINT NOT TO FAVOR OUR SOFTWARE BECAUSE OF SOME PERCEPTION THEY HAD.
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"For Amazon, here's a stock that's probably the most tactical it's been in years, and we say this looking at the stock's weekly MACD [moving average convergence divergence indicator] inflecting positively from its most oversold condition since 2014 with a long-term uptrend that's still intact as well," said Wald.
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Chernow presents a convincing case that neither the rings nor the corners ever touched Grant directly—the Treasury continued to sell gold despite the arranged marriage—and that, in any case, the scandals have been oversold to history by a toxic combination of snobbish New England mandarins and sinister revanchist rednecks.
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Dougherty has been circulating in high-level confabs since Trump's election and reports a persistent mood of entitlement and '90s nostalgia — a refusal to take responsibility for foreign policy failures, to admit that post-national utopianism was oversold, to reckon with the social decay and spiritual crisis shadowing the cosmopolitan dream.
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Any good news was going to bring a big reaction and the idea that the U.S. sort of oversold the accomplishment wasnt a complete surprise either, and was perhaps factored in to some of the reaction last week, said Jim Vogel, an interest rate strategist at FTN Financial in Memphis, Tennessee.
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"I think there's some bargains to be had at this point in time for some stocks that, over the last six weeks, have taken a bit of a hit, are now offering quite good value and are also in oversold territory," said Jonathan Roy, advisory investment manager at Charles Hanover Investments.
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"As we've cut the losses in half by lunch and continued to move higher, it's become a matter of buyers remaining interested in continuing to buy stocks that they feel have been oversold and a lack of sellers' supply," said Michael James, managing director of equity trading at Wedbush Securities in Los Angeles.
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"Obviously when you see volatility in the U.S. markets you always try to look for something that people aren't necessarily focusing on that might surprise you and just looking at the EEM emerging market ETF, it's now gotten to a point where it's getting pretty oversold," Maley told CNBC's "Trading Nation " on Tuesday.
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A 69-year-old doctor, Dao was one of four people who was randomly selected to get off the oversold plane just before it was supposed to take off Sunday from O'Hare International Airport for Louisville, in order to make room for United flight crew members who needed to get to an assignment.
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Operating on the belief that the initial rout might be an overreaction, even in some European stocks, several fund managers said on Friday they were buying up shares of big blue chips, domestic companies that are insulated from a lot of European activity and even European companies that might have been oversold.
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"While today's bounce suggests a short-term oversold market condition is attracting buyers, one more final push to the downside is on the horizon as a 3-percent 26.8-year Treasury yield is still not fully discounted," Peter Cardillo, chief market economist at First Standard Financial in New York, wrote in a note.
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United's terms, which are standard in the industry, stipulate that the airline must compensate passengers on domestic flights who were involuntarily denied boarding on an oversold flight at double the fare they paid, up to $675, if the alternative flight is scheduled to arrive less than two hours after the original flight.
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"However, on a longer-term basis, you look at its weekly RSI, the SMH is not very oversold, so I think it's going to have some more downside here over time and, therefore, if you want to look at the group overall you're really going to have to pick your individual stocks," said Maley.
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Brett Doyle said his family, who first tried unsuccessfully to check in his older son online, was told at the airport there was no seat available for the boy on an oversold flight from Charlottetown, Prince Edward Island, to Montreal, where they were connecting to a flight to a Costa Rica vacation last month.
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"While today's news is unfortunate, we see the shares as oversold on DOJ concerns and believe the market fails to account for Hapoalim's strong capital position, which should allow the bank to grow its risk-weighted assets while maintaining its dividend policy," said Barclays analyst Tavy Rosner, adding the bank can weather litigation costs of up to $2.4 billion.
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Though its shares have entered into a so-called technical death cross, a typically bearish sign wherein a security's 50-day moving average falls beneath its 200-day moving average, Johnson told CNBC's "Trading Nation" on Thursday that its relative strength index would suggest it's firmly in oversold territory and could see a bounce from here.
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Lagging growth, profits, and customer ratings put heavy pressure on the airline, while the 2017 scandal in which the police dragged a doctor off of an oversold flight led to a reputational crisis, along with an episode in which a flight attendant forced a passenger to put a dog in an overhead compartment in early 2018 (the dog died).
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"If you find yourself trapped in a name like this, just I think becoming frozen is the worst thing you can do, I would look to sell some, throw some into the fire here and then if we do get some sort of oversold bounce, I think you can take the rest off," he said. Disclaimer
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Read More Stocks are doing something they haven't done in 20 years "We are finding attractive valuations in non-energy names that have been oversold in reaction to lower oil prices over the past year; examples include home builders that have been unfairly punished due to their exposure to Texas, several of the regional banks, hotel operators, and other business that have indirect exposure to energy," Marshall said.
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"I think we are witnessing an oversold rally that could be sowing the seeds of its own demise as it bulls its way higher to levels that just don't make a lot of sense given the fundamentals," Cramer said Read More Cramer: Our situation is worse, despite the rally Cramer also wondered what it would take for Avon, the direct seller of cosmetics and personal care products, to turn itself around.
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It hasn't happened today, thanks to a rally in oil and a set of indicators that have been in oversold territory for days on end, including a high put/call ratio, the VIX in backwardation (the front month contracts are higher priced than contracts further out), and horrible sentiment from rank-and-file traders (the American Association of Individual Investors weekly sentiment indicator hit an 11-year low this week).
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Johnson's road life was days of washing the kids' faces in slimy truckstop restrooms, enduring cold, hours-long waits hoping to get onto oversold Greyhounds where everyone smells like engine degreaser and chicken fingers, indeterminate periods of untrustworthy stability of trying to put down roots before moving on because there's an aunt with a spare room in Tallahassee, or because you've heard vaguely that western Colorado is booming.
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"I think the downward trend is intact, but then I think in the near term, because the market is so oversold, and also because we're detecting some policy shift from the top, so I wouldn't be surprised to see some consolidation or even a small technical rebound from here," he said As of late Tuesday morning, the Shanghai Composite was trading lower by 0.52 percent and the smaller Shenzhen Composite eased 0.67 percent.
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