For 5 Stocks, RSI Reading Falls Below 70 – (CUR, ABT, CB, PPHM, CDNS)
RSI is one of the most popular technical analysis indicators used to measure momentum on a scale of zero to 100. The Relative Strength Index is very easy to interpret, and provide traders a very clear trade signal. In this article, we explain overbought condition using the Relative Strength Index.
The RSI determines average prices of days when the stock ends the trade higher with days where the stock closes down. How it works? The RSI line will move up and down with the stock price in between a range of 0 and 100. When the RSI line advances above 70, the stock is believed to be overbought, indicating that its price might be a little overextended on the high side. On the other side when the RSI line drops below 30 the stock is considered to be oversold.
Neuralstem, Inc. (NYSE:CUR) currently has an RSI of 66.57. This year, the company has a year-to-date performance up +18.56%. The stock, as of the last close, traded up 173.81% from its 52 weeks low and was 41.33% behind its 52 weeks high.
The latest closing price was +18.46% up from the SMA200 while the distance from the SMA 50 and the SMA 20 was +44.69% and +78.43% respectively. CUR, a biopharmaceutical company, focuses on the development and commercialization of treatments for central nervous system disease based on transplanting human neural stem cells and the use of small molecule drugs.
Abbott Laboratories (NYSE:ABT) engages in the discovery, development, manufacture, and sale of health care products worldwide. The RSI of Abbott Laboratories is at 64.50. The stock’s 2012 performance has remained up at +24.47%.
Its price, as of the latest close, was 44.27% up from the 52 week low and was 1.44% below the 52 week high. The stock’s latest closing price was +14.08% up from the average 200 day price while it kept its distance from the SMA 50 at +3.69% and +3.08% compared with the SMA 20.
The Chubb Corporation (NYSE:CB)’s RSI reading has hit 67.24. The company so far in this year moved up +11.20% and its monthly performance stands at +5.40%.
The stock was up 37.78% compared with 52 week lows and was 0.92% below 52 week highs. Its latest closing price was +8.47% up from the average-price of 200 days while it kept the distance from the SMA 50 at +4.66% and +2.65% compared with the SMA 20. CB, through its subsidiaries, provides property and casualty insurance to businesses and individuals.
Peregrine Pharmaceuticals (NASDAQ
PHM) a biopharmaceutical company, engages in the research and development of monoclonal antibodies for the treatment and diagnosis of cancer. Peregrine Pharmaceuticals’ RSI is now at 65.89.The stock has shown an uptrend of +284.47% this year with a monthly performance of +50.00% and a 3-month performance up 676.47%.
Its latest closing price was up +266.41% from an average-price of 200 days while it maintained a distance from SMA 50 at +84.60% and +31.71% compared with the SMA 20. Its shares were up 915.38% compared with 52 weeks low and were 22.96% below 52 weeks high.
Cadence Design Systems, Inc (NASDAQ:CDNS) has a RSI reading of 68.32. Year-to-date performance of the stock stands at +30.19% and surged +25.02% in last three months and +37.60% in the previous twelve months.
Its price, as of the latest close, was 55.45% up from its 52 week low and was 1.81% below its 52 week high. Its latest closing price was +18.87% up from the average-price of 200 days while it stayed away from the SMA 50 at +9.59% and +3.11% compared with the SMA 20. CDNS develops, sells or leases, licenses, and maintains electronic design automation software, hardware, verification intellectual property (IP), and design IP for semiconductor and electronic system customers worldwide.
Disclosure: Opinions expressed in this article are those of the authors alone who have no stake in any stocks mentioned, and did not plan to acquire any stake within the next 72 hours.
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