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In trading on Thursday, shares of United Therapeutics Corp (NASDAQ:UTHR) entered into overbought territory, changing hands as high as $47.60 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 United Therapeutics Corp, the RSI reading has hit 70.9 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 54.5.
Investors could look at UTHR's 70.9 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 UTHR shares:
Looking at the chart above, UTHR's low point in its 52 week range is $36.55 per share, with $70.74 as the 52 week high point — that compares with a last trade of $47.56.
UTHR operates in the Biotechnology sector, among companies like Alnylam Pharmaceuticals Inc (NASDAQ:ALNY) which is up about 2.9% today and has a current RSI reading of 62.7. Below is a three month price history chart comparing the stock performance of UTHR, versus ALNY.
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