CORT Crosses Above Average Analyst Target Monday, February 27, 9:09 AM ET, by Market News Video Staff In recent trading, shares of Corcept Therapeutics Inc (CORT) have crossed above the average analyst ...
In trading on Wednesday, shares of ViroPharma Inc. (VPHM) entered into overbought territory, changing hands as high as $28.34 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 ViroPharma Inc., the RSI reading has hit 80.7 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 43.3.
Investors could look at VPHM's 80.7 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 VPHM shares:
Looking at the chart above, VPHM's low point in its 52 week range is $14.62 per share, with $28.34 as the 52 week high point — that compares with a last trade of $27.80.
VPHM operates in the Drugs & Pharmaceuticals sector, among companies like Corcept Therapeutics Inc (NASDAQ:CORT) which is down about 0.6% today and has a current RSI reading of 59.7. Below is a three month price history chart comparing the stock performance of VPHM, versus CORT.
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