Lesson 1: Oversold Chart Pattern
Lesson 1: Oversold Chart Pattern – COOL, ZAGG, RENN, HDY, QPSA, GLUU, LOCM
1. A condition in which the price of an underlying asset has fallen sharply, and to a level below which its true value resides. This condition is usually a result of market overreaction or panic selling.
2. A situation in technical analysis where the price of an asset has fallen to such a degree – usually on high volume – that an oscillator has reached a lower bound. This is generally interpreted as a sign that the price of the asset is becoming undervalued and may represent a buying opportunity for investors.
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“Jason you are brilliant. I picked up 4,000 shares at $1.10 sold for $1.16 later on. I think it's important not to get too greedy, and small but steady is just fine with me. I also sold COOL today at 2.70, bought at 2.30.”