Bentley Systems Enters Oversold Territory
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AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA AAPL TSLA AMZN META AMD NVDA PEP COST ADBE GOOG AMGN HON INTC INTU NFLX ADP SBUX MRNA Markets BSY Bentley Systems Enters Oversold Territory January 03, 2024 — 03:54 pm EST Written by BNK Invest for BNK Invest-> The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, according to a proprietary formula designed to identify those stocks that combine two important characteristics — strong fundamentals and a valuation that looks inexpensive.
Bentley Systems Inc (Symbol: BSY) presently has an above average rank, in the top 50% of the coverage universe, which suggests it is among the top most "interesting" ideas that merit further research by investors. But making Bentley Systems Inc an even more interesting and timely stock to look at, is the fact that in trading on Wednesday, shares of BSY entered into oversold territory, changing hands as low as $47.04 per share. We define oversold territory using the Relative Strength Index, or RSI, which is a technical analysis indicator used to measure momentum on a scale of zero to 100. A stock is considered to be oversold if the RSI reading falls below 30. In the case of Bentley Systems Inc, the RSI reading has hit 27.9 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 56.0. A falling stock price — all else being equal — creates a better opportunity for dividend investors to capture a higher yield. Indeed, BSY's recent annualized dividend of 0.2/share (currently paid in quarterly installments) works out to an annual yield of 0.40% based upon the recent $49.39 share price. A bullish investor could look at BSY's 27.9 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. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on BSY is its dividend history. In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue. Click here to find out what 9 other oversold dividend stocks you need to know about » Also see: Stocks with Recent Secondaries That Hedge Funds Are Buying Top Ten Hedge Funds Holding HEWW Match Group DMA The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc. Tags MarketsStocks BNK Invest BNK Invest Inc. provides investment services and information. BNK Invest owns and operates a market news family of websites including DividendChannel, ETFChannel, StockOptionsChannel, and others, which make up an investor community featuring stock message boards, ratings, research, and strategies. BNK Invest caters to investing firms and individual investors internationally. Stocks with Recent Secondaries That Hedge Funds Are Buying-> Top Ten Hedge Funds Holding HEWW-> Match Group DMA-> More articles by this source-> Stocks mentioned BSY More Related Articles This data feed is not available at this time. Data is currently not available • Sign up for the TradeTalks newsletter to receive your weekly dose of trading news, trends and education. Delivered Wednesdays.