Sorry!! The article you are trying to read is not available now.
Thank you very much;
you're only a step away from
downloading your reports.

Are Yahoo, Home Depot, and Visa Stocks Overbought?

By

Earlier in the week, Yahoo was added to Goldman Sachs' "Conviction Buy" list. Today, a proprietary indicator is signaling that the stock is "Approaching Overbought."

PrintPRINT
MINYANVILLE ORIGINAL Today we have three widely held stocks that are either Approaching Overbought or Overbought. Yahoo (NASDAQ:YHOO) is Approaching Overbought, Home Depot (NYSE:HD) is Overbought, and Visa (NYSE:V) is Approaching Overbought.

Earlier in the week we wrote about Yahoo being upgraded by Goldman Sachs and being added to Goldman's "Conviction Buy" list. Today we got an Approaching Overbought level. We went to a Strong Buy back on October 5 at $16.05 and the stock is now up 17.65%.

ChartLabPro.com has three levels for its proprietary countertrend reading, which we use to determine if a stock is overbought over oversold: 1) Approaching Overbought, 2) Overbought, and 3) Extremely Overbought. Many people often want to know the historical accuracy of our countertrend, so we provide three widely held names at the end of this article to show its accuracy.

We use Approaching Overbought to sell 50% of a position and Overbought to sell 100%.


Click to enlarge


Click to enlarge


Click to enlarge


Click to enlarge


Click to enlarge


Click to enlarge

To learn more about ChartLabPro's algorithm visit www.chartlabpro.com.
< Previous
  • 1
Next >
No positions in stocks mentioned.
The information on this website solely reflects the analysis of or opinion about the performance of securities and financial markets by the writers whose articles appear on the site. The views expressed by the writers are not necessarily the views of Minyanville Media, Inc. or members of its management. Nothing contained on the website is intended to constitute a recommendation or advice addressed to an individual investor or category of investors to purchase, sell or hold any security, or to take any action with respect to the prospective movement of the securities markets or to solicit the purchase or sale of any security. Any investment decisions must be made by the reader either individually or in consultation with his or her investment professional. Minyanville writers and staff may trade or hold positions in securities that are discussed in articles appearing on the website. Writers of articles are required to disclose whether they have a position in any stock or fund discussed in an article, but are not permitted to disclose the size or direction of the position. Nothing on this website is intended to solicit business of any kind for a writer's business or fund. Minyanville management and staff as well as contributing writers will not respond to emails or other communications requesting investment advice.

Copyright 2011 Minyanville Media, Inc. All Rights Reserved.
PrintPRINT
 
Featured Videos

WHAT'S POPULAR IN THE VILLE