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Heaving Buying Triggers RSI Cross (TOL)

By Market News Video Staff, Tuesday, December 6, 5:13 PM ET
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In trading on Tuesday, shares of Toll Brothers Inc. (NYSE:TOL) entered into overbought territory, changing hands as high as $21.44 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 Toll Brothers Inc., the RSI reading has hit 71.3 by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 60.1.

Investors could look at TOL's 71.3 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 TOL shares:

Toll Brothers Inc. 1 Year Performance Chart

Looking at the chart above, TOL's low point in its 52 week range is $13.16 per share, with $22.42 as the 52 week high point that compares with a last trade of $21.31.

According to the ETF Finder at ETF Channel, TOL makes up 8.05% of the iShares Dow Jones U.S. Home Construction Index Fund ETF (AMEX:ITB) which is trading relatively unchanged on the day Tuesday.

See what other ETFs contain TOL
See what other stocks are held by ITB

TOL operates in the General Contractors & Builders sector, among companies like Standard Pacific Corp. (NYSE:SPF) which is up about 1.1% today and has a current RSI reading of 59.2. Below is a three month price history chart comparing the stock performance of TOL, versus SPF.

TOL,SPF Relative Performance Chart


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