Gilead Sciences 23.68% of Biotech HOLDRS ETF Thursday, October 7, 8:24 AM ET, by Market News Video Staff Gilead Sciences (GILD) makes up 23.68% of the Biotech HOLDRS (BBH) ETF. The Biotech HOLDRS ...
Genzyme Insists $69 Per Share Too Low Friday, October 22, 3:32 PM ET, by Market News Video Staff The Board of Directors for Genzyme Corp. (GENZ) continues to rebuff the hostile takeover efforts ...
AMGN, BIIB Initiated at Sell Thursday, November 4, 12:51 PM ET, by Market News Video Staff Coverage of both Amgen (AMGN) and Biogen Idec (BIIB) was initiated at Goldman Sachs (GS) ...
In trading on Tuesday, shares of Charles River Laboratories International Inc. (NYSE:CRL) entered into overbought territory, changing hands as high as $33.96 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 Charles River Laboratories International Inc., the RSI reading has hit 79.5 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 68.5.
Investors could look at CRL's 79.5 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 CRL shares:
Looking at the chart above, CRL's low point in its 52 week range is $25.52 per share, with $42.84 as the 52 week high point — that compares with a last trade of $33.53.
According to the ETF Finder at ETF Channel, CRL makes up 1.47% of the Biotech ETF (AMEX:BBH) which is trading up by about 1.7% on the day Tuesday.
CRL operates in the Biotechnology sector, among companies like Incyte Corporation (NASDAQ:INCY) which is off about 1.9% today and has a current RSI reading of 68.6. Below is a three month price history chart comparing the stock performance of CRL, versus INCY.
This Article's Word Cloud:AccordingBelowBiotechnologyCharlesDaysETFsINCYIncyteInternationalInvestorsLaboratoriesRelativeRiverSevenTuesdayaboutaboveamonganalysisbreakchartcompaniescomparisoncouldhandshighhistorymomentumotheroverboughtoverdueperformancepointpricepullbackrangereadingrecentscalesharesharesspecialstockterritorythattradingweekwhatwhichwith
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.
Now Playing:
Learn About The RSI
Weekly Market Wrap: May 18, 2012
Daily Dividend Report: MNRO, MCD, CTL, MCK, HNZ, POR
Week Ahead Market Report: May 14, 2012
Weekly Market Wrap: May 11, 2012
Walmart Announces Earnings
Daily Market Wrap: May 24, 2012
