X - Top 5 Materials Stocks That Are Ticking Portfolio Bombs | Benzinga
As of Jan. 11, 2024, five 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.
Pactiv Evergreen Inc. (NASDAQ: PTVE)
- On Nov. 1, Pactiv Evergreen posted upbeat quarterly earnings. Michael King, President and Chief Executive Officer of Pactiv Evergreen, said, "I am proud of our team’s performance during the third quarter. The Company continued to execute at a high level, while managing costs and making further progress on its transformational journey.” The company’s stock jumped around 15% over the past month ...