| Companhia Siderurgica (SID) Enters Overbought Territory | |
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Companhia Siderúrgica Nacional (SID) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because SID is now in overbought territory with an RSI value of 72.39. What is RSI? RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present. Other Factors Yet SID’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in Companhia Siderúrgica’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of SID’s prospects for the near term. Over the past two months, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for SID has also been on a downward trend over the same time period too, as the estimate has fallen from -$0.31/share two months ago to just -$0.35/share today. If this wasn’t enough, Companhia Siderúrgica also has a Zacks Rank #4 (Sell)which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report >> Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report CIA SIDERUR-ADR (SID): Free Stock Analysis Report To read this article on Zacks.com click here. Zacks Investment Research
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Companhia Siderurgica Nacional
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CODE : SID |
ISIN : US20440W1053 |
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ProfileMarket IndicatorsVALUE : Projects & res.Press releasesAnnual reportRISK : Asset profileContact Cpy |
Companhia Siderurgica is a development stage company based in Brazil. Companhia Siderurgica is listed in United States of America. Its market capitalisation is US$ 3.0 billions as of today (€ 2.7 billions). Its stock quote reached its lowest recent point on October 11, 2002 at US$ 0.70, and its highest recent level on December 01, 2006 at US$ 9.98. Companhia Siderurgica has 1 387 520 000 shares outstanding. |