Top 2 Risk Off Stocks You May Want To Dump In Q4

Author: Lisa Levin | October 24, 2023 07:54am

The most overbought stocks in the consumer staples 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.

Blue Apron Holdings, Inc. (NASDAQ:APRN)

• Blue Apron announced an agreement to be acquired by Wonder Group for $13 per share. The company’s stock has a 52-week high of $32.76. .
• RSI Value: 76.88
• APRN Price Action: Shares of Blue Apron fell 0.1% to close at $12.91 on Monday.

Almacenes Éxito S.A. (NYSE:EXTO)

• The company’s stock jumped more than 25% over the past month. The company’s stock has a 52-week high of $6.90.
• RSI Value: 72.67
• EXTO Price Action: Shares of Almacenes Éxito rose 0.3% to close at $6.82 on Monday.

 

Read More: Alphabet, General Motors And 3 Stocks To Watch Heading Into Tuesday

Posted In: APRN EXTO