TSLA - Top 5 Consumer Stocks That Are Ticking Portfolio Bombs | Benzinga
As of July 11, 2024, five stocks in the consumer discretionary 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.
Sony Group Corp (NYSE:SONY)
- On June 12, Sony Group's Sony Pictures Entertainment (SPE) acquired Alamo Drafthouse Cinema, a prominent dine-in movie theater chain, marking a significant expansion into the theatrical exhibition sector. "Alamo Drafthouse has always held the craft of filmmaking and the theatrical experience in high esteem, which are fundamental shared values between our companies. I'm jazzed that our company is doing this," said Chairman and CEO of Sony Pictures Motion Picture Group, Tom Rothman. The company's stock gained around 9% over the past five days and has a 52-week high of $100.88.
- RSI Value: 76.70
- SONY Price Action: Shares of Sony Group gained 2.5% to close at $92.73 on Wednesday.
- Benzinga Pro's real-time newsfeed alerted to latest SONY’s news.