Nov
23
The following stocks (NASDAQ:GGAL, NYSE:BAK and NYSE:COR) are overbought as their Relative Strength index (RSI) is above 70. Indeed, the RSI is one of the most popular technical indicators and is computed on the basis of the speed and direction of a stock’s price movement, generally in a 14-day window. The RSI value will always move between 0 and 100; the value will be 0 if the stock falls on all 14 days, and 100, if the price moves up on all the days. This implies that the RSI can also be used to identify the overbought/oversold levels. Most technical analysts consider the RSI value above 70 as ‘overbought zone’ and below 30 as ‘oversold zone’.
Grupo Financiero Galicia SA (ADR) (NASDAQ:GGAL)(Trend analysis) relative strength index stands at 80.6. Grupo Financiero Galicia SA (ADR) (NASDAQ:GGAL) stock is currently trading 2% below its 52-week-high, 105.79% above its 52-week-low. The 1-year stock price history is in the range of $13.81 – $29. Grupo Financiero Galicia SA (ADR) (GGAL) has a price to earnings ratio of 8.96 versus Financial sector average of 15.58. Grupo Financiero Galicia SA (ADR) is currently valued at $3.7 billion. The stock has a 50-day moving average of $23.42 and a 200-day moving average of $20.84.
There are currently seven analysts that cover Grupo Financiero Galicia SA (ADR) stock. Of those seven, four have a Buy rating, two have a Hold rating and one has a Sell rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $34.44.
The stock closed last trading session at $28.42, up by 4.26%.
Braskem SA (ADR) (NYSE:BAK)(Trend analysis) relative strength index is at the level of 84.43. The company’s shares were traded at $14.52, up by 3.35%, with a volume of 1,481,848 shares against an average volume for the last 3 months of 714,783. This represents a volume multiple of 2.07.
Braskem SA (ADR) (BAK) current short interest stands at 3.94 million shares. It has increased by 18% from the same period of last month. Around 5% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.91 million shares, the number of days required to cover the short positions stand at 4.4 days.
A recent stock analyst activity consisted of JP Morgan downgrading their Overweight rating to Neutral on May 20.
CoreSite Realty Corporation (NYSE:COR)(Trend analysis) relative strength index is evolving around the 70 level. The stock closed last trading session at $59.57, up by 3.28%, with a volume of 745,144 shares compared to an average volume for the last 3 months of 322,363. The year-to-date performance of the stock stands at 18.13%.
CoreSite Realty Corporation (COR) current short interest stands at 9.34 million shares. It has increased by 29% from the same period of last month. Around 4% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.33 million shares, the number of days required to cover the short positions stand at 28.7 days.
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