Big Gainers: LNN, AMR, NVO Wednesday, October 20, 5:09 PM ET, by Market News Video Staff Shares of Lindsay Corporation (LNN) are trading higher on Wednesday on news that earnings beat ...
HALO Crosses Above Key Moving Average Level Friday, July 1, 2:11 PM ET, by Market News Video Staff In trading on Friday, shares of Halozyme Therapeutics Inc (HALO) crossed above their 200 day ...
In trading on Tuesday, shares of Oncothyreon Inc (NASDAQ:ONTY) entered into overbought territory, changing hands as high as $8.25 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 Oncothyreon Inc, the RSI reading has hit 70.5 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 60.1.
Investors could look at ONTY's 70.5 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 ONTY shares:
Looking at the chart above, ONTY's low point in its 52 week range is $2.99 per share, with $11.59 as the 52 week high point — that compares with a last trade of $8.16.
ONTY operates in the Biotechnology sector, among companies like Amylin Pharmaceuticals, Inc. (AMLN) which is down about 0.1% today and has a current RSI reading of 51.4. Below is a three month price history chart comparing the stock performance of ONTY, versus AMLN.
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