In trading on Friday, shares of Fly Leasing Ltd. (NYSE:FLY) entered into overbought territory, changing hands as high as $13.40 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 Fly Leasing Ltd., the RSI reading has hit 70.6 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 57.8.
Investors could look at FLY's 70.6 reading as a sign that the recent heavy buying is in the process of winding down, which could bring a pullback in the stock. The chart below shows the one year performance of FLY shares:
Looking at the chart above, FLY's low point in its 52 week range is $10.00 per share, with $14.58 as the 52 week high point — that compares with a last trade of $13.37.
Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on FLY is its dividend history.
In general, dividends are not always predictable; but, looking at the history chart below can help in judging whether the most recent dividend is likely to continue.
FLY Dividend History
* Data may be adjusted for splits; we are not responsible for data errors; always verify data with the company.
FLY operates in the Airlines sector, among companies like LAN Airlines SA (NYSE:LFL) which is down about 1% today, and Expeditors International of Washington, Inc. (NASDAQ:EXPD) trading up by about 1.1%. Below is a three month price history chart comparing the stock performance of FLY, versus LFL and EXPD.
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