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In trading on Tuesday, shares of Liquidity Services Inc (NASDAQ:LQDT) entered into overbought territory, changing hands as high as $37.05 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 Liquidity Services Inc, the RSI reading has hit 70.2 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 60.1.
Investors could look at LQDT's 70.2 reading as a sign that the recent heavy buying is overdue to take a break, which could bring a pullback in the stock. The chart below shows the one year performance of LQDT shares:
Looking at the chart above, LQDT's low point in its 52 week range is $12.58 per share, with $37.14 as the 52 week high point — that compares with a last trade of $36.97.
LQDT operates in the Application Software sector, among companies like Mentor Graphics Corp (NASDAQ:MENT) which is off about 0.7% today and has a current RSI reading of 63.5. Below is a three month price history chart comparing the stock performance of LQDT, versus MENT.
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