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Shares RSIs, highs and lows

A look at shares trading at significant levels today.

A Debenhams branch
Source: Bloomberg

Punch Taverns' latest move lower has seen it re-enter our oversold list today, but aside from this the list remains mostly unchanged. It is Debenhams that is worth watching, since the share price is heading back towards 70p, the key low through the year so far.

Vedanta has dropped back today, but given the size of the upward move this is no surprise. Meggitt, the defence firm, remains overbought, thanks mainly to bid speculation.

Relative Strength Index (RSI)*

Company

Share Price

Oversold

Company

Share Price

Overbought

AZ Electronic Materials SA 388.75 27.74 Meggitt 524.5

79.84

Kenmare Resources 9 28.39 Synergy Health 1429 78.69
Debenhams 73. 29.32 United Utilities Group 898 77.37
Petropavlovsk 59.5 30.45 Vedanta

1168

75.83
Punch Taverns 10 31.67 Heritage Oil 318.2 74.82
Fenner

343

31.86 Imagination Technologies Group 252.6 74.21
Carpetright 523 34.38 Severn Trent 2000 73.91

 

Defence firm Cobham has been making acquisitions lately, and this has revived shareholder enthusiasm. A pullback would see the price challenge 320p, and then if this is broken 308p. Tesco and Morrisons continue to struggle, ahead of figures from Sainsbury’s tomorrow.

Highs/Lows**

Company

Share Price

% off 52-week high

Company

Share Price

% off 52-week low

United Utilities Group 898 0.00% Kenmare Resources 9

0.00%

Cobham 327.4 -0.06% Lonmin 238.8 2.18%
Provident Financial 2182 -0.09% Debenhams 73

3.03%

Severn Trent 2000 -0.10% Experian

1051

3.24%
Halfords Group 513 -0.19% Intertek Group 2901 4.05%
Heritage Oil

318.2

-0.28% Morrison Supermarkets 192 4.12%
IMI 1605 -0.43% GlaxoSmithKline 1597 4.52%
Shire 3590 -0.53% Tesco 293 5.21%
Synergy Health 1429 -0.56% Antofagasta 772.5 5.39%
3i Group 434.1 -0.57% Carpetright 523 6.09%

 

*What is a relative strength index?

Relative strength index is a technical momentum indicator that compares the magnitude of recent gains to recent losses in an attempt to determine overbought and oversold conditions of an asset.

An asset is viewed as overbought once the RSI approaches the 70 level, meaning that it may be getting overvalued and is a candidate for a possible pullback. Conversely, if the RSI approaches 30, it is an indication that the asset may be oversold and may become undervalued.

**What is the significance of 52-week highs and lows?

One popular strategy is to buy when shares exceed 52-week highs and sell when they fall below 52-week lows.

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