RSI - Top 5 Consumer Stocks That May Crash In August | Benzinga
The most overbought stocks in the consumer discretionary sector presents an opportunity to go short on these overvalued companies.
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.
Here’s the latest list of major overbought players in this sector.
MakeMyTrip Limited (NASDAQ: MMYT)
- MakeMyTrip Limited reported better-than-expected first-quarter financial results. The company’s stock has a 52-week high of $38.79. .
- RSI Value: 78.54
- MMYT Price Action: Shares of MakeMyTrip fell 0.7% to close at $38.45 on Tuesday.
Perdoceo Education Corporation (NASDAQ: PRDO)
- Perdoceo Education posted ...