RSI - Top 5 Energy Stocks You May Want To Dump In March | Benzinga
As of March 12, 2024, five stocks in the energy 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.
Gulf Island Fabrication, Inc. (NASDAQ: GIFI)
- On March 7, Gulf Island Fabrication reported a year-over-year increase in fourth-quarter revenue results. "Our strong fourth quarter results cap off an excellent year for Gulf Island and reflect the continued favorable end market trends in our core Gulf ...