Top 3 Industrials Stocks That Could Sink Your Portfolio This Month
Author: Avi Kapoor | July 17, 2024 09:05am
As of July 17, 2024, three stocks in the industrials 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.
Gates Industrial Corporation PLC (NYSE:GTES)
- Gates Industrial is expected to issue its second-quarter earnings release before the opening bell on Wednesday, July 31. The company's stock gained around 12% over the past five days and has a 52-week high of $17.98.
- RSI Value: 74.86
- GTES Price Action: Shares of Gates Industrial gained 4.3% to close at $16.97 on Tuesday.
Fluor Corp (NYSE:FLR)
- On July 2, Truist Securities analyst Jamie Cook maintained Fluor with a Buy and raised the price target from $47 to $54. The company's stock gained around 14% over the past five days and has a 52-week high of $50.63.
- RSI Value: 80.06
- FLR Price Action: Shares of Fluor gained 3.7% to close at $50.26 on Tuesday.
A O Smith Corp (NYSE:AOS)
- On July 15, A. O. Smith said it has signed an agreement to acquire Pureit from Unilever. “We believe the addition of Pureit will strengthen our leadership position as a global supplier of premium water treatment products and double our market penetration in South Asia. The acquisition will also support our corporate strategy by enhancing our premium product portfolio and distribution capabilities,” said Kevin J. Wheeler, the Company’s chairman and chief executive officer. The company's stock gained around 13% over the past five days and has a 52-week high of $92.14.
- RSI Value: 76.88
- AOS Price Action: Shares of A O Smith gained 4.8% to close at $91.98 on Tuesday.
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Posted In: AOS FLR GTES
