Relative Strength Alert For Kraft Heinz Monday, April 2, 4:19 PM ET, by Market News Video Staff The DividendRank formula at Dividend Channel ranks a coverage universe of thousands of dividend stocks, ...
In trading on Tuesday, shares of Delphi Automotive Plc (NYSE:DLPH) entered into overbought territory, changing hands as high as $23.80 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 Delphi Automotive Plc, the RSI reading has hit 73.8 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 68.5.
Investors could look at DLPH's 73.8 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 DLPH shares:
Looking at the chart above, DLPH's low point in its 52 week range is $19.22 per share, with $23.80 as the 52 week high point — that compares with a last trade of $23.62.
DLPH operates in the Auto Parts sector, among companies like American Axle & Manufacturing Holdings Inc (NYSE:AXL) which is up about 1% today and has a current RSI reading of 78.0. Below is a three month price history chart comparing the stock performance of DLPH, versus AXL.
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