MLM - Top 5 Materials Stocks That Are Ticking Portfolio Bombs | Benzinga
As of March 5, 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.
Nature Wood Group Limited (NASDAQ: NWGL)
- On March 4, Nature Wood Group said it expects to achieve a significant increase in revenue, reaching $45 million for the fiscal year 2024, compared to the recently preannounced revenue of $25.4 million for 2023. The company’s stock gained around 16% over the past five days and has a 52-week high of $21.97 .
- RSI Value: 77.38
- NWGL Price Action: ...