SPI Energy Co., Ltd. – American (NASDAQ:SPI) Overbought but Is That a Sell Indicator?

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SPI Energy Co., Ltd. – American (NASDAQ:SPI) has reached overbought status with a 14-day RSI of 89.12.

The Relative Strength Index (RSI) is a very common technical indicator used to determine strengthening and weakening momentum in stock movements. RSI levels above 70 are considered overbought and stocks are considered oversold at levels under 30. Overbought is a technical condition that occurs when prices are considered too high and susceptible to a decline.

The stock’s Average True Range (ATR) is currently 0.02. The ATR is an indicator of volatility. It can’t tell you the direction of the stock but indicates how likely the price is to change.

Shares of the company are trading at $0.12 which is much lower than the 50 day moving average of $0.40 and which is significantly below the 200 day moving average of $0.40. The 50 day moving average was down $-0.28 and the 200 day average was down $-0.28.

Short Interest

Investors are a little more bearish recently as implied by the rise in short interest. The company had a rise in short interest of 148.25% as of August 31, 2017 from the last reporting period. Short shares grew 39,179 over that timeframe. The days to cover decreased to 0.0 and the short interest percentage is 0.00% as of August 31.

Company Information

SPI Energy Co., Ltd. is a provider of photovoltaic (PV) solutions for business, residential, government and utility customers and investors. The Company operates through solar energy products and services segment. The types of products and services in segment includes engineering, procurement and construction (EPC) services, sales of PV solar system, electricity revenue under power purchase agreements (PPAs), trading of PV solar components, pre-development project sales and financial service revenue. The Company provides a spectrum of EPC services to third-party project developers, as well as develops, owns and operates solar projects that sell electricity to the grid in countries, including China, the United States, the United Kingdom, Greece, Japan and Italy. The Solar projects in its portfolio include projects at all stages of development, including projects in operation, projects under construction and projects in pipeline..