Monotype Imag. Hold (NASDAQ:TYPE) is Overbought According to the RSI

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Monotype Imag. Hold (NASDAQ:TYPE) has reached an overbought level with an RSI(14) at 83.38.

The Relative Strength Index (RSI) is one of the most widely used technical indicators used to determine strengthening and weakening momentum in stock movements. RSI levels above 70 are considered overbought while an RSI of under 30 is considered oversold. Overbought is a condition that occurs when price momentum is considered too high and may be susceptible to a decline.

Volatility

Monotype Imag. Hold’s beta is at 0.99 making it less volatile than the market as a whole that has a beta of 1. Stocks with a beta lower than the market are considered to be less risky than the market while those with a higher beta may be more risky than the market.

The stock’s Average True Range (ATR) is sitting at 0.51. The ATR is a short term indicator of volatility. It can’t tell you the direction of the stock but indicates how likely the price is to change.

Short Interest

Traders are feeling more bearish on the company recently as inferred by the uptick in short interest. The stock experienced a rise in short interest of 10.14% as of October 13, 2017 from the last reporting period. Short interest increased from 1,854,645 to 2,042,768 over that timeframe. Days to cover decreased 0.0 to 3.0 and the percentage of shorted shares was 0.05% on October 13.

Recent Analyst Ratings

Equity analyst B. Riley raised the price target on November 1 changing the forecast from $20.00 to $24.50 and issued a “Neutral” recommendation.

The most current P/E ratio is 10 and market cap is 1.03B.

Company Information

Monotype Imaging Holdings Inc. (Monotype), launched on August 11, 2005, is involved in the development, marketing and licensing of technologies and fonts. The Company empowers expression and engagement for creatives, designers, engineers and marketers. For marketers, it enables engagement with a customer’s brand enthusiasts and measurement of content interactions in digital environments, such as mobile messaging and social media platforms. The Company organizes its business operations into two areas: creative professionals and original equipment manufacturer (OEM). For Creative Professional market, the Company provides content across multiple devices and mediums. Its solutions, which include type, branded mobile content, visual content marketing solutions, custom design services, and tools and technologies that enable the creative process, are licensed through its direct sales channel, e-commerce platforms and partner platforms. It also provides consumer device manufacturers and independent software vendors (ISVs) with the right solutions for delivering consistent, compelling user experiences..