RSI - Top 4 Materials Stocks You May Want To Dump In Q2 | Benzinga
As of May 30, 2024, four stocks in the materials 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.
Nexa Resources S.A. (NYSE:NEXA)
- On May 2, Nexa posted better-than-expected quarterly sales. The company's CEO Ignacio Rosado said, "We began the year on a positive note, ...