Bio-Reference Laboratories Getting Very Oversold (BRLI)

Legendary investor Warren Buffett advises to be fearful when others are greedy, and be greedy when others are fearful. One way we can try to measure the level of fear in a given stock is through a technical analysis indicator called the Relative Strength Index, or RSI, which measures momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30.

In trading on Wednesday, shares of Bio-Reference Laboratories, Inc. ( BRLI) entered into oversold territory, hitting an RSI reading of 28.6, after changing hands as low as $25.86 per share. By comparison, the current RSI reading of the S&P 500 ETF (SPY) is 58.5. A bullish investor could look at BRLI's 28.6 RSI reading today as a sign that the recent heavy selling is in the process of exhausting itself, and begin to look for entry point opportunities on the buy side. The chart below shows the one year performance of BRLI shares:

START SLIDESHOW:
Find out what 9 other oversold stocks you need to know about »

Bio-Reference Laboratories, Inc. 1 Year Performance Chart

Looking at the chart above, BRLI's low point in its 52 week range is $23.36 per share, with $32.86 as the 52 week high point — that compares with a last trade of $26.00.

According to the ETF Finder at ETF Channel, BRLI makes up 1.90% of the SPDR S&PHealth Care Services ETF ( XHS) which is trading higher by about 0.3% on the day Wednesday.

null

More from Stocks

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

Tesla CEO Elon Musk Is a Rock Star: Kiss Icon Gene Simmons

The Best Investment Advice? Stay Diversified

The Best Investment Advice? Stay Diversified

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Attention 60 Minutes: Google Isn't the Only Big-Tech Monopoly

Listen: Should You Buy Cisco Now?

Listen: Should You Buy Cisco Now?

Amazon Could Devastate Walgreens and Rite Aid by Getting Into Pharmacy Business

Amazon Could Devastate Walgreens and Rite Aid by Getting Into Pharmacy Business