Moved out of oversold territory about 4 days before div ex-date...

Moved out of oversold territory about 4 days before div ex-date and is still showing as not oversold. As long as it is above oversold territory I will not buy. My boat has not come in yet. I was right not to buy when it was actually showing as oversold and it was just a short time before the ex-div date as it was obviously going lower. It will now probably slip a bit lower still before becoming oversold. Current downturn mostly due to the broker analysts and major institutions like Macquarie suggesting clients trim holdings in the banks generally - mostly due to many of them (eg CBA & NAB) being at 35 year highs and should not be valued at these prices. The regionals get caught up in the same basket despite where they might be historically (ABA actually now at a 10 year low). I mostly follow fundamentals but occasionally the technicals show sound reasons when to buy or sell. My only error here is I should have sold when ABA was $5.50 and bought back in the coming few weeks. However hindsight is not a useful tool at all.