As of Oct. 11, 2024, two stocks in the industrials 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.
Uber Technologies Inc (NYSE:UBER)
- Uber will hold its quarterly conference call to discuss its third quarter financial results on Thursday, Oct. 31. The company's stock gained around 11% over the past month and has a 52-week high of $82.14.
- RSI Value: 72.91
- UBER Price Action: Shares of Uber closed at $77.92 on Thursday.
SkyWest Inc (NASDAQ:SKYW)
- SkyWest will host a live conference call and webcast after the closing bell on Thursday, Oct. 31 to discuss third quarter 2024 results. The company's stock gained around 19% over the past month and has a 52-week high of $88.89.
- RSI Value: 74.68
- SKYW Price Action: Shares of SkyWest rose 1.5% to close at $88.68 on Thursday.
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