As of Dec. 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.
Pampa Energia S.A. (NYSE:PAM)
- On Nov. 6, Pampa Energia reported quarterly earnings of $2.70 per share which beat the analyst consensus estimate of $1.90 per share. The company's shares gained around 15% over the past month and has a 52-week high of $93.11.
- RSI Value: 80.27
- PAM Price Action: Shares of Pampa Energia gained 2.7% to close at $91.79 on Monday.
Central Puerto SA – ADR (NYSE:CEPU)
- On Sept. 11, B of A Securities analyst Gustavo Faria maintained Central Puerto with a Neutral and raised the price target from $11 to $12. The company's stock gained around 16% over the past month and has a 52-week high of $16.34.
- RSI Value: 81.36
- CEPU Price Action: Shares of Central Puerto gained 1.8% to close at $15.48 on Monday.
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