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7 Oversold Stocks Ready to Bounce, 2 to Avoid

PLCM Chart PLCM data by YCharts

Polycom (PLCM - Get Report)

Background: Polycom develops, manufactures and markets a full range of high-quality, media-rich communication tools and network solutions. The company's broadband communication solutions enable business users to immediately realize the benefits of video, voice and data over rapidly growing converged networks. The company trades an average of 2.2 million shares per day with a market cap of $1.7 billion.

52-Week High: $26.11

52-Week Low: $7.45

Book Value: $8.02

Price to Book: 1.22

Analysts are more or less side-stepping this one like a politician dancing the Washington two-step. Twelve out of 14 analysts rate Polycom a hold, two recommend this as a buy and no analysts recommend selling.

Polycom closed Tuesday at $9.32, a price that technically breaks the support level of the trend line by a very small amount. The nine-day moving average is still providing support and intact, but I would hold off until it proves a bottom has been put in.

The trailing 12-month price-to-earnings ratio is 13.9, the mean fiscal year estimate price-to-earnings ratio is 33.0, based on earnings of 29 cents per share this year.

The current proportion sold short based on the float is 7%. I would not short here, but this is one of two companies in this article I would not enter a long.

PLCM Free Cash Flow Chart PLCM Free Cash Flow data by YCharts

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