According to the most recent SEC filings, corporate insiders at BlueLinx Holdings Inc. (NYSE:BXC) have decreased their position in the stock by 36.94% over the past 6 months. Insiders now own 3.10% of total outstanding shares.
Looking at the current landscape of the equity market, investors may be doing some bargain hunting for stocks to add to the portfolio. Many sharp investors will welcome temporary market dips which may provide plenty of buying opportunities. Being prepared for these types of opportunities can help the investor make quick decisions in the midst of a downturn. As we move closer to the close of the year, investors will be closely watching the next round of company earnings reports. Even if the individual investor chooses to trade conservatively during earnings, they can still do the necessary research and have stocks lined up to purchase when the time is right.
BlueLinx Holdings Inc. (NYSE:BXC) stands 33.53% away from its 50-day simple moving average and also 28.76% away from the 200-day average. Recently, the equity stands -25.09% away from the 52-week high and 78.92% from the 52-week low. The RSI (Relative Strength Index), an indicator that shows price strength by comparing upward and downward close-to-close movements is 78.25.
The consensus analysts recommendation at this point stands at 2.00 for BlueLinx Holdings Inc.. This is based on a 1-5 scale where 1 indicates a Strong Buy and 5 a Strong Sell. Further, analysts have a 12 month target price of $28.00 on company shares. This is according to the analysts polled by Thomson Reuters which have recently published research reports on the firm.
New traders may face many challenges when entering the stock market. One of the bigger challenges involves not repeating mistakes. As with any new endeavor, there will be a learning curve. Paying attention to historical trades can help the trader figure out where they might have gone astray. Repeating the same mistakes over and over again can lead to the demise of the trader’s confidence and hard earned money. Traders who are able to move forward and learn from previous errors may find themselves making much better decisions in the future.
