Overbought Stocks To Watch: Eli Lilly & Co (NYSE:LLY), Hologic Inc (NASDAQ:HOLX), MEDNAX Inc (NYSE:MD)

The following Healthcare stocks (NYSE:LLY, NASDAQ:HOLX and NYSE:MD) 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’.

Eli Lilly & Co (NYSE:LLY)(Trend analysis) relative strength index stands at 72.98. Eli Lilly & Co (NYSE:LLY) stock is currently trading 0.06% below its 52-week-high, 47.54% above its 52-week-low. The 1-year stock price history is in the range of $60.14 – $88.78. Eli Lilly & Co (LLY) has a price to earnings ratio of 43.28 versus Healthcare sector average of 26.64. Eli Lilly & Co is currently valued at $94.43 billion. The stock has a 50-day moving average of $80.58 and a 200-day moving average of $73.8.

There are currently twenty analysts that cover Eli Lilly & Co stock. Of those twenty, ten have a Buy rating, ten have a Hold rating. On a consensus basis this yields to an Overweight rating. The consensus target price stands at $84.84.

The stock closed last trading session at $88.73, up by 2.76%.

Hologic Inc (NASDAQ:HOLX)(Trend analysis) relative strength index is at the level of 70.38. The company’s shares were traded at $38.8, up by 1.2%, with a volume of 3,041,928 shares against an average volume for the last 3 months of 1,767,630. This represents a volume multiple of 1.72.

Hologic Inc (HOLX) current short interest stands at 11.61 million shares. It has increased by 7% 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 2.06 million shares, the number of days required to cover the short positions stand at 5.7 days.

A recent stock analyst activity consisted of Jefferies reiterating their Buy stance on April 30. Jefferies increased their price target on HOLX from $34 to $38.

MEDNAX Inc (NYSE:MD)(Trend analysis) relative strength index is evolving around the 74 level. The stock closed last trading session at $76.29, up by 1.65%, with a volume of 973,561 shares compared to an average volume for the last 3 months of 555,178. The year-to-date performance of the stock stands at 45.1%.

MEDNAX Inc (MD) current short interest stands at 6.34 million shares. It has decreased by 2% from the same period of last month. Around 7% of the company’s shares, which are float, are short sold. With a 10-days average volume of 0.72 million shares, the number of days required to cover the short positions stand at 8.8 days.

Overbought Stocks To Watch: Eli Lilly & Co (NYSE:LLY), Hologic Inc (NASDAQ:HOLX), MEDNAX Inc (NYSE:MD) was last modified: July 8th, 2015 by Eric Hanson