As of March 11, 2024, five stocks in the consumer staples 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.
Vintage Wine Estates, Inc. (NASDAQ:VWE)
On March 5, Vintage Wine Estates issued an update on asset sales as company progressed towards streamlined business model and announced a forbearance agreement with lenders. The company's stock gained around 25% over the past five days and has a 52-week high of $1.4550 .
RSI Value: 73.81
VWE Price Action: Shares of Vintage Wine Estates gained 12.9% to close at $0.5826 on Friday.
Vital Farms, Inc. (NASDAQ:VITL)
On March 7, Vital Farms reported better-than-expected fourth-quarer results and issued revenue guidance above estimates. For FY24, the company sees net revenue of at least $552 million, which represents at least a 17% increase compared to fiscal year 2023 (estimate: $550.6 million). The company's stock gained around 33% over the past month and has a 52-week high of $21.26.
RSI Value: 78.60
VITL Price Action: Shares of Vital Farms gained 3.1% to close at $20.51 on Friday.
Sprouts Farmers Market, Inc. (NASDAQ:SFM)
On Feb. 22, Sprouts Farmers Market reported better-than-expected fourth-quarter results. The company's stock gained around 21% over the past month has a 52-week high of $65.53.
RSI Value: 81.50
SFM Price Action: Shares of Sprouts Farmers Market gained 0.1% to close at $63.35 on Friday.
Colgate-Palmolive Company (NYSE:CL)
On Jan. 26, Colgate-Palmolive reported upbeat fourth-quarter financial results. "We leveraged our strong margin performance to invest behind building our brands, with a 19% increase in advertising spending in 2023, and we expect higher levels of brand investment in 2024," said Noel Wallace, Chairman, President and Chief Executive Officer. The company's stock jumped around 5% over the past month and has a 52-week high is $88.50.
RSI Value: 74.69
CL Price Action: Shares of Colgate-Palmolive fell 0.1% to close at $88.07 on Friday.
Target Corporation (NYSE:TGT)
On March 5, Target reported fourth-quarter FY23 revenue growth of 1.7% year-on-year to $31.92 billion, beating the analyst consensus estimate of $31.83 billion. The company's stock jumped around 10% over the past five days and has a 52-week high of $175.53.
RSI Value: 70.39
TGT Price Action: Shares of Target fell 1.1% to close at $169.72 on Friday.
截至2024年3月11日,必需消費品板塊的五隻股票可能會向將動量視爲交易決策關鍵標準的投資者發出真正的警告。
RSI 是一種動量指標,它比較股票在價格上漲的日子和價格下跌的日子的走勢。與股票的價格走勢相比,它可以讓交易者更好地了解股票在短期內的表現。根據Benzinga Pro的數據,當相對強弱指數高於70時,資產通常被視爲超買。
以下是該行業主要超買參與者的最新名單。
Vintage Wine Estates, Inc.(納斯達克股票代碼:VWE)
Vital Farms, Inc.(納斯達克股票代碼:VITL)
Sprouts Farmers Market, Inc.(納斯達克股票代碼:SFM)
高露潔棕欖公司(紐約證券交易所代碼:CL)
塔吉特公司(紐約證券交易所代碼:TGT)