Stocks that Could Bounce (HPQ, CSCO, NTRI, GS, MGM)

Investing Ideas has picked out some of the same stocks the Masters have been touting over the past week. Of the Oversold: 10 'Coiled Spring' Stocks he includes Hewlett-Packard Company (NYSE:HPQ), Cisco Systems (NASDAQ:CSCO), NutriSystem (NASDAQ:NTRI), Goldman Sachs (NYSE:GS) and MGM Resorts International (NYSE:MGM).

He does note that the author is long CSCO, NTRI, HPQ, RAS, MGM, DRYS. So just keep that in mind when considering his analysis.

(SA) With the recent volatility in the markets and the correction due to the Japan crisis, some stocks have been hit very hard recently. This has created some potential buying opportunities. The stocks below are trading at valuations that might be a real buying opportunity. Some of these stocks fell on earnings disappointments, which often create exaggerated, temporary drops in the share prices. Others are down due to a number of issues, including the recent market correction. Sponsors - Become one Today

Famed investor Doug Kass said on CNBC yesterday that the stock market in general is oversold, due to the crisis in Japan. Oversold stocks and markets can rebound sharply for many reasons, including a return to normal valuations and/or short covering.

These shares have reasonable PE ratios, strong balance sheets and are oversold. In particular, I am looking at earnings and the Relative Strength Index (RSI) levels which can indicate oversold conditions. Stocks with an RSI rating around 30 or below can signal that the shares are oversold and due for a rebound. Stocks with an RSI rating around 70 or more can be considered overbought.



WallStNation.comThanks for visiting, to assist your investing research try using our Search (click to access) or review the list of Tickers (click to access) that link directly to articles related to the given stock/security.

To Browse our Most Recent Stories (click here)

Share Content

Share this article with others, is the Independent Wall Street Newspaper. Thanks for Reading!

Daily Market Summary

Please Review the Disclaimer and remember that information provided by our site is at the investor's sole financial risk. Please Review for more Details