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AVAV Crosses Above Key Moving Average Level
Wednesday, April 11, 11:38 AM ET, by Market News Video Staff

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Shares of TXT Now Overbought

By Market News Video Staff, Wednesday, January 11, 3:13 PM ET
Play Video: Learn About The RSI


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In trading on Wednesday, shares of Textron Inc. (NYSE:TXT) entered into overbought territory, changing hands as high as $22.00 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 Textron Inc., the RSI reading has hit 75.7 by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 69.2.

Investors could look at TXT's 75.7 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 TXT shares:

Textron Inc. 1 Year Performance Chart

Looking at the chart above, TXT's low point in its 52 week range is $14.66 per share, with $28.87 as the 52 week high point that compares with a last trade of $21.26.

According to the ETF Finder at ETF Channel, TXT makes up 4.55% of the SPDR S&P Aerospace & Defense ETF (NYSE:XAR) which is trading higher by about 3.8% on the day Wednesday.

See what other ETFs contain TXT
See what other stocks are held by XAR

TXT operates in the Aerospace & Defense sector, among companies like CAE Inc. (NYSE:CAE) which is off about 0.4% today and has a current RSI reading of 60.6. Below is a three month price history chart comparing the stock performance of TXT, versus CAE.

TXT,CAE Relative Performance Chart


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