SCL - Top 5 Materials Stocks That May Crash This Quarter | Benzinga
As of Dec. 8, 2023, 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.
Ranpak Holdings Corp. (NYSE: PACK)
- On Oct. 31, Ranpak Hldgs posted a narrower-than-expected third-quarter loss. "We are pleased to report continued improvement in our operating and financial profile as volumes increased year over year and we continue to see gross margin expansion," said Omar M. Asali, Chairman and Chief Executive of Ranpak. The company’s stock jumped around 51% over the past month and has a 52-week high of $8.24 .
- RSI Value: 71.40
- PACK Price ...