NWSA Crosses Below Key Moving Average Level Monday, July 11, 3:51 PM ET, by Market News Video Staff In trading on Monday, shares of News Corp (NWSA) crossed below their 200 day moving ...
In trading on Tuesday, shares of Madison Square Garden Co (NASDAQ:MSG) entered into overbought territory, changing hands as high as $29.00 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 Madison Square Garden Co , the RSI reading has hit 71.2 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 47.7.
Investors could look at MSG's 71.2 reading as a sign that the recent heavy buying is overdue to take a breather, which could bring a pullback in the stock. The chart below shows the one year performance of MSG shares:
Looking at the chart above, MSG's low point in its 52 week range is $21.12 per share, with $30.21 as the 52 week high point — that compares with a last trade of $28.99.
MSG operates in the Entertainment sector, among companies like Rentrak Corp. (NASDAQ:RENT) which is up about 0.1% today and has a current RSI reading of 50.3. Below is a three month price history chart comparing the stock performance of MSG, versus RENT.
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