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| Lowe's Companies Inc Stock Getting Very OverboughtBy Dividend Channel Staff, Wednesday, November 16, 12:06 PM ET
In trading on Wednesday, shares of Lowe's Companies Inc (NYSE:LOW) entered into overbought territory, changing hands as high as $23.88 per share. We define overbought 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 overbought if the RSI reading rises above 70. In the case of Lowe's Companies Inc, the RSI reading has hit 70.9 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 57.5. A bearish investor could look at LOW's 70.9 reading as a sign that the recent heavy buying is in the process of exhausting itself, and shares are due for a pullback. The chart below shows the one year performance of LOW shares:
Looking at the chart above, LOW's low point in its 52 week range is $18.07 per share, with $27.45 as the 52 week high point — that compares with a last trade of $23.75. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on LOW 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.
According to the ETF Finder at ETF Channel, LOW makes up 5.63% of the Retail HOLDRS ETF (AMEX:RTH) which is trading higher by about 0.1% on the day Wednesday. See what other ETFs contain LOW » LOW operates in the Home Improvement Stores sector, among companies like Fastenal Co. (NASDAQ:FAST) which is down about 0.2% today, and Home Depot Inc (NYSE:HD) trading up by about 0.6%. Below is a three month price history chart comparing the stock performance of LOW, versus FAST and HD.
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