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MSFT off oversold chart, INTC uncertain

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statistics_1 August 9, 2013 (Chinavestor) Du Pont (NYSE:DD) remains on top of the Dow 30 overbought monitor. This technical indicator keeps track of all 30 Dow components from a technical point of view. Investors have to keep in mind that neither the Dow Industrial Average nor any of its components are considered overbought at this point. Du Pont (NYSE:DD) and 3M Company (NYSE:MMM), the two Dow components trading closest to theoretical highs, have been trading in a narrow range lately as the following chart testifies.

OB_20130809

Intel Corp. (NASDAQ:INTC) continues to top the oversold monitor on Friday morning. But Microsoft Corp. (NASDAQ:MSFT), the most oversold Dow component earlier the week, bounce back and is off the danger zone. The bad news for Intel (NASDAQ:INTC) investors is that the stock hasn’t reached theoretical lows yet, leaving more room to the downside.

OS_20130809

Overbought A technical condition that occurs when prices are considered too high and susceptible to a decline. Overbought conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp advance from $15 to $30 in 2 weeks might lead a technician to believe that a security is overbought. Or, a security is sometimes considered overbought when the stock is trading out of its trading envelope and is approaching the theoretical high. It is important to keep in mind that overbought is not necessarily the same as being bearish. It merely infers that the stock has risen too far too fast and might be due for a pullback.

Oversold A technical condition that occurs when prices are considered too low and ripe for a rally. Oversold conditions can be classified by analyzing the chart pattern or with indicators such as the one above. A sharp decline from $30 to $15 in 2 weeks might lead a technician to believe that a security is oversold. Or, a security is sometimes considered oversold when the stock is trading below its trading envelope and is approaching theoretical lows. It is important to keep in mind that oversold is not necessarily the same as being bullish. It merely infers that the security has fallen too far too fast and may be due for a reaction rally.



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