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| Fly Leasing Ltd. Stock Getting OverboughtBy Dividend Channel Staff, Friday, January 6, 12:00 PM ET
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 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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