The Relative Strength Index (RSI) is a versatile oscillator that measures how prices move. It ranges between 0 and 100; when it is over 70, it is usually in overbought territory. When it is under 30, it is seen to be oversold, generally. Considering the RSI, stocks that are currently in overbought territory, as of July 2, are United Bankshares, Inc. (NASDAQ:UBSI), Sterling Bancorp (NYSE:STL), and IGATE Corp (NASDAQ:IGTE).
The first stock in an overbought state right now is IGATE Corp (NASDAQ:IGTE). It is at 72.21. The share price is up, compared to the last 52-week period, at 67.71%, which is +0.10% from its low over that 52 weeks. It is over the average 50-day price by +1.33%. Relative to the SMA 20, it is +0.79%. The return, over the last three months, shows as +12.99%.
United Bankshares, Inc. (NASDAQ:UBSI) is also in overbought territory. It shows a six-month return of +13.85%, with a return over one year of +32.85%. The 52-week period shows its share price is up from its low with +41.60% and is lower than the 52-week high with -3.05%. Currently, it is +9.71% above the 50-day average price. That is +7.09% above the SMA 20. As of last close, this stock is up +11.13%.
As for Sterling Bancorp (NYSE:STL), it is at 73.28 for the RSI. That gives it +13.91% return over the last three-month period. As per last close, it is up +12.39% in a single month; it is $15.24. It is currently above the average 50-day price by +11.60% and, compared to the SMA 20, it is +7.20%. The share price is up from the 52-week high with +1.33% and up from the low for that same 52 weeks by +33.97%. If you are a short-term trader, looking at two-period RSI can be helpful for finding overbought readings over 80 and oversold readings under 20.
