Is Scientific Games Corp (NASDAQ:SGMS) Stock Overbought?

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Scientific Games Corp (NASDAQ:SGMS) has reached overbought status with an RSI(14) at 83.34 .

The Relative Strength Index (RSI) is one of the most popular technical indicators used to ascertain strengthening and weakening momentum in price action. RSI levels 70 and above are considered overbought with RSI’s under 30 indicating oversold. Overbought is a technical condition that occurs when prices are considered too high and may be susceptible to a decline.

Volatility

(NASDAQ:SGMS) currently has a beta of 2.59 making it more volatile than the market as a whole that has a beta of 1. Stocks with beta’s lower than 1 are less risky and those with a higher beta are more risky than the market over the long haul.

The stock’s Average True Range (ATR) is currently 1.14. The ATR is a short term measure of volatility. It doesn’t indicate the likely direction of the stock price, just the likelihood that the stock will move.

It is currently trading at $43.28 which is quite a bit above the 50 day moving average which is $36.03 and which is impressively higher than the 200 day moving average of $27.37. The 50 day moving average went up $7.24 or +20.104% and the 200 day average went up by +58.092%.

Scientific Games Corp in the news.

Scientific Games Launches ANCHORMAN: THE LEGEND OF RON BURGUNDY™
IGT and Scientific Games Corporation Sign Cross-Licensing Agreement
Scientific Games Shortlisted For Four 2017 Global Gaming Awards
Scientific Games Awarded Contract To Provide 4,200 New iVIEW®4 On-Device Messaging Controllers To Pechanga Resort & Casino
Oregon Lottery Extends Contract With Scientific Games.

Short Interest

Traders are feeling more bearish recently if you evaluate the motion in short interest. The stock saw a rise in short interest between August 15, 2017 and August 31, 2017 of 1.38%. Short interest increased from 10,925,994 to 11,076,782 over that timeframe. Days to cover increased 6.0 to 16.0 and the short interest percentage is 0.12% as of August 31.

As of the last earnings report the EPS was $-3.97 and is expected to be $-2.23 for the current year with 89,424,000 shares outstanding. Analysts expect next quarter’s EPS will be $-0.22 and the next full year EPS is anticipated to be $-0.82.

Company Information

Scientific Games Corporation, launched on July 2, 1984, is a developer of technology-based products and services and associated content for the gaming, lottery and interactive gaming industries. The Business’s segments include Gaming, Lottery and Interactive. The Business’s portfolio includes gaming machines and game content, casino management systems, table game products and services, instant and draw-based lottery games, server-based gaming and lottery systems, sports betting technology, lottery content and services, loyalty and rewards programs, interactive gaming and social casino solutions. The Company?s games are available on Facebook, Amazon.com, the Apple app store and Android app on Google play..