As of Oct. 17, 2024, two stocks in the utilities sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.
Here’s the latest list of major overbought players in this sector.
Vistra Corp VST
- Vistra will report its third quarter 2024 financial and operating results on Thursday, Nov. 7. The company’s stock gained around 49% over the past month and has a 52-week high of $143.86.
- RSI Value: 74.63
- VST Price Action: Shares of Vistra gained 5.8% to close at $135.69 on Wednesday.
Sempra SRE
- On Oct. 1, Barclays analyst Eric Beaumont maintained Sempra with an Overweight and raised the price target from $87 to $89. The company’s stock gained around 5% over the past five days and has a 52-week high of $85.83.
- RSI Value: 71.96
- SRE Price Action: Shares of Sempra rose 1.9% to close at $85.66 on Wednesday.
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