Welbilt, Inc. (NYSE:WBT) Signals ‘Overbought’ Based on Its RSI

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Welbilt, Inc. (NYSE:WBT) is at overbought status with an RSI(14) at 81.51 .

The Relative Strength Index (RSI) is one of the most popular technical indicators used to determine strengthening and weakening momentum in stock movements. An RSI above 70 is an overbought indication and stocks are considered oversold at levels under 30. Overbought is a condition that occurs when prices are considered too high and the probability of decline is higher.

The stock’s Average True Range (ATR) is sitting at 0.49. The ATR is an indicator of volatility. It doesn’t indicate direction, just proclivity for motion.

The stock last traded at $22.97 much higher than $19.64, the 50 day moving average and which is quite a bit above the 200 day moving average of $19.46. The 50 day moving average was up $3.33 and the 200 day average went up by +18.028%.

Short Interest

Investors are a little more bullish on Welbilt, Inc. recently as shown by the fall in short interest. The firm recorded a fall in short interest of -3.34% as of August 31, 2017 from the last reporting period. Short interest fell 334,645 over that timeframe. With short interest at 9,679,999 and short average daily volume at 550,407, days to cover is 18.0 and the short interest percentage is 0.07% as of August 31.

Welbilt, Inc. currently has a P/E ratio of 39.663 and market cap is 3.19B. In the latest earnings report the EPS was $0.58 and is projected to be $0.78 for the current year with 138,974,000 shares outstanding. Analysts expect next quarter’s EPS will be $0.24 with next year’s EPS projected to be $0.93.