Back to top

Image: Bigstock

Condor Hospitality (CDOR) Enters Overbought Territory

Read MoreHide Full Article

Condor Hospitality Trust, Inc. has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because CDOR is now in overbought territory with an RSI value of 70.35.

What is RSI?

RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.

Other Factors

Yet CDOR’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions Condor Hospitality’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of CDOR’s prospects for the near term.

Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for CDOR’s has also been on a downward trend over the same time period too, as the estimates have fallen 38.5% over the last two months.

If this wasn’t enough, Condor Hospitality also has a Zacks Rank #5 (Strong Sell)which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Just Released: Zacks’ 7 Best Stocks for Today

Experts extracted 7 stocks from the list of 220 Zacks Rank #1 Strong Buys that has beaten the market more than 2X over with a stunning average gain of +24.9% per year.

These 7 were selected because of their superior potential for immediate breakout.

See these time-sensitive tickers now >>

Published in