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Shares of HOGS Now Overbought

By Market News Video Staff, Friday, January 6, 4:38 PM ET
Play Video: Learn About The RSI

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In trading on Friday, shares of Zhongpin Inc (HOGS) entered into overbought territory, changing hands as high as $10.35 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 Zhongpin Inc, the RSI reading has hit 70.1 by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 62.4.

Investors could look at HOGS's 70.1 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 HOGS shares:

Zhongpin Inc 1 Year Performance Chart

Looking at the chart above, HOGS's low point in its 52 week range is $6.60 per share, with $20.25 as the 52 week high point that compares with a last trade of $10.05.

HOGS operates in the Food & Beverage sector, among companies like Yum! Brands, Inc. (NYSE:YUM) which is up about 0.8% today and has a current RSI reading of 67.5. Below is a three month price history chart comparing the stock performance of HOGS, versus YUM.

HOGS,YUM Relative Performance Chart

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