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| Shares of HCBK Now OverboughtBy Dividend Channel Staff, Wednesday, January 4, 11:30 AM ET
In trading on Wednesday, shares of Hudson City Bancorp, Inc. (NASDAQ:HCBK) entered into overbought territory, changing hands as high as $6.58 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 Hudson City Bancorp, Inc., the RSI reading has hit 70.2 — by comparison, the universe of dividend stocks covered by Dividend Channel currently has an average RSI of 55.8. Investors could look at HCBK's 70.2 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 HCBK shares:
Looking at the chart above, HCBK's low point in its 52 week range is $5.09 per share, with $13.26 as the 52 week high point — that compares with a last trade of $6.59. Among the fundamental datapoints dividend investors should investigate to decide if they are bullish on HCBK 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.
HCBK makes up 2.84% of the KME - SPDR S&P Mortgage Finance ETF ETF (AMEX:KME) HCBK operates in the Credit Services & Lending sector, among companies like First Defiance Financial Corp. (NASDAQ:FDEF) which is off about 1.2% today, and Bank Mutual Corp (NASDAQ:BKMU) trading lower by about 2.2%. Below is a three month price history chart comparing the stock performance of HCBK, versus FDEF and BKMU.
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