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| Heavy Buying Triggers RSI Cross (VMC)By Metals Channel Staff, Monday, December 12, 11:53 AM ET
In trading on Monday, shares of Vulcan Materials Co (NYSE:VMC) entered into overbought territory, changing hands as high as $45.00 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 Vulcan Materials Co , the RSI reading has hit 72.3 — by comparison, the universe of metals and mining stocks covered by Metals Channel currently has an average RSI of 45.7, the RSI of Spot Gold is at 36.8, and the RSI of Spot Silver is presently 39.0. Investor could look at VMC's 72.3 reading as a sign that the recent heavy buying is soon reaching a point of exhausting itself, which could mean shares are due for a pullback. Looking at a chart of one year performance (below), VMC's low point in its 52 week range is $25.06 per share, with $48.26 as the 52 week high point — that compares with a last trade of $39.79. Vulcan Materials Co shares are currently trading up about 19.2% on the day.
According to the ETF Finder at ETF Channel, VMC makes up 4.95% of the Dynamic Building & Construction Portfolio ETF (AMEX:PKB) which is trading lower by about 0.4% on the day Monday. See what other ETFs contain VMC » VMC operates in the Metals & Mining sector, among companies like Peabody Energy Corp (NYSE:BTU) which is down about 4.2% today, and Yanzhou Coal Mining Co., Ltd. (NYSE:YZC) trading lower by about 5.4%. Below is a three month price history chart comparing the stock performance of VMC, versus BTU and YZC.
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