IRF August 16th Options Begin Trading Monday, June 23, 12:39 PM ET, by Market News Video Staff Investors in International Rectifier Corp. (IRF) saw new options become available today, for the August ...
In trading on Thursday, shares of SunPower Corp (NASDAQ:SPWR) entered into overbought territory, changing hands as high as $7.84 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 SunPower Corp, the RSI reading has hit 72.5 — by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 72.1.
Investors could look at SPWR's 72.5 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 SPWR shares:
Looking at the chart above, SPWR's low point in its 52 week range is $4.94 per share, with $23.36 as the 52 week high point — that compares with a last trade of $7.78.
According to the ETF Finder at ETF Channel, SPWR makes up 4.06% of the Solar Energy ETF (AMEX:KWT) which is trading relatively unchanged on the day Thursday.
SPWR operates in the Semiconductors sector, among companies like International Rectifier Corp. (NYSE:IRF) which is off about 0.5% today and has a current RSI reading of 65.1. Below is a three month price history chart comparing the stock performance of SPWR, versus IRF.
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