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Tale of the Tape

Zacks Equity Research

Forbes Energy Services Ltd. (FES) Enters Overbought Territory
July 18, 2013

Trades from $3

Forbes Energy Services Ltd. has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because FES is now in overbought territory with an RSI value of 70.81. Furthermore, estimates for the Forbes Energy Services Ltd have been coming down, pushing it to a Zacks Rank #5 (Strong Sell). This suggests that investors may better off exiting this stock before it falls back to Earth.