As of Oct. 16, 2024, two stocks in the real estate 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.
Kilroy Realty Corp (NYSE:KRC)
- Kilroy Realty will release third quarter 2024 financial results after the closing bell on Monday, Oct. 28. The company's stock gained around 11% over the past five days and has a 52-week high of $43.37.
- RSI Value: 72.10
- KRC Price Action: Shares of Kilroy Realty gained 3.2% to trade at $41.40 on Wednesday.
Douglas Emmett Inc (NYSE:DEI)
- Douglas Emmett said it will release its 2024 third quarter earnings results after the closing bell on Monday, Nov. 4. The company's stock gained around 11% over the past month and has a 52-week high of $18.78.
- RSI Value: 73.78
- DEI Price Action: Shares of Douglas Emmett rose 2.3% to trade at $18.78 on Wednesday.
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