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Shares of WFR Now Overbought

By Market News Video Staff, Thursday, January 12, 4:27 PM ET
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In trading on Thursday, shares of MEMC Electronic Materials, Inc. (WFR) entered into overbought territory, changing hands as high as $4.93 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 MEMC Electronic Materials, Inc., the RSI reading has hit 70.2 by comparison, the RSI reading for the S&P 500 ETF (SPY) is presently 72.1.

Investors could look at WFR's 70.2 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 WFR shares:

MEMC Electronic Materials, Inc. 1 Year Performance Chart

Looking at the chart above, WFR's low point in its 52 week range is $3.65 per share, with $15.04 as the 52 week high point that compares with a last trade of $4.88.

According to the ETF Finder at ETF Channel, WFR makes up 9.84% of the Solar Energy ETF (AMEX:KWT) which is trading relatively unchanged on the day Thursday.

See what other ETFs contain WFR
See what other stocks are held by KWT

WFR operates in the Semiconductors sector, among companies like Diodes, Inc. (NASDAQ:DIOD) which is down about 0.4% today and has a current RSI reading of 61.2. Below is a three month price history chart comparing the stock performance of WFR, versus DIOD.

WFR,DIOD Relative Performance Chart


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