As legendary investor, Warren Buffet advises about being fearful when others are greedy and greedy when others are fearful, it sounds as a better strategy of analyzing and striking in trades. Trades analysis is based on Relative Strength Index (RSI), which is a variant of momentum between 0-100. If a stock falls anywhere below 30, the stock is considered oversold. Although online trade was speculated to suffer a big blow following the US election, it seems most firms are holding on.
On Wednesday November 16 trades, GlaxoSmithKline plc’s (NYSE: GSK) shares hit RSI line with 29.8 reading, after a previous low sale of $38.11 per share. On another instance, S&P 500ETF (SPY) managed 62.0. From a glance, an investor would think that following GSK’s 29.8 RSI score; conclude that this firm is headed to exhausting itself, taking into its recent streak of heavy selling into consideration.
One could therefore look for an opportunity to buy shares here. However, in a completely different note, GSK has had a low point with $37.82 per share with its highest at $45.58, which compares with yesterdays trade of $38.19-http://bit.ly/2fZRWPT
Elsewhere, looking at components of the Russell 300 index, Pioneer Natural Resources Co (NYSE: PXD) had an impressive result with more than 7, 456 contracts being traded, which tallies to approximately 43.3% of PXD’s normal daily trading volume that has been witnessed over the last one month now totaling to 1.7 million shares. More action is likely to come along as PXD still has a great strike that extends to November.
Farther afield in UK, FTSE continues to suffer extended losses as house builder shares drop. House builders’ losses have dragged FTSE 100 following investors’ negative reactions to Barratt Developments’ statement on trading. FTSE went down from making impressive gains last week, to shed about 0.6% to 6,749 points. At the same time, its main markets in Frankfurt and Paris too fell by 0.8% and 0.7% respectively.
Meanwhile, Relx, which is the former Reed Elsevier marked the highest rise by well up 2.9%.
In other places, Ocado, an online retailer, suffered a heavy loss following supermarket Morrisons’ home delivering tie-up with Amazon, which dealt them a great blow. This decline saw Ocado, which has a sealed deal to deliver orders fromMorrisons.com drop in shares by about 8.5%. ICAP sunk with a double-digit, losing well over 10%.
On the side of the currency markets, the pound was down 0.1% against the dollar at $1.2443, but managed to stay 0.4% higher against the Euro at €1.1655. -http://bbc.in/2g1mVt0
On the same date, Senior Housing Properties Trust crossed the oversold line. The CO.’s daily operations are conducted by The RMR Group LLC, which is its manager. On Dec 31 2015, Co. had 427 properties across 43 states and in Washington D. C.; their portfolio comprised 296 senior living communities and 34, 699 living units. Over the time, 121 of its properties have been leased to medical related businesses, biotech lab tenants and clinics among others.
Elsewhere, President-elect of the USA Donald Trump’s win seems to be good news to shipping companies. A Greek shipping company, DryShips, which was recently seemingly headed for the rocks, has revived to rise up 1,400% since Trump’s election too. Euroseas, a tiny Greek shipping company owning only about 12 vessels fleet and has a penny stock traded on Nasdaq is one of them. Trumps election seems to be a favor to this company, as on his election on Tuesday its share shot up by 100% and the progress is apparently consistent. Seanergy is yet another company that appears to be reaping great advantages from Trump’s win. The tiny company deals with dry bulk shipping of grain and coal. It comes second in the line with an astounding 75% rise in shares on the same day.
Trump’s entry impact on the financial markets does not end here; the new leader has also sent seismic wave of changes on copper, which has had its prices soaring high, as well as other sectors of the vast stock market, and especially in sectors, that does not include technology.
This drastic change has been contributed by speculations that Trumps victory will lead to inflation and fiscal stimulus such as offshore cash repatriation, tax cuts and infrastructure spending. The same is seemingly reflecting on dry bulk shipping, despite the sector being depended on shipping between the U.S and China, and it is feared that Trump may clamp down on global trade.