Top 2 Industrials Stocks You May Want To Dump This Month

Author: Avi Kapoor | September 10, 2024 08:45am

As of Sept. 10, 2024, two 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.

Southwest Airlines Co (NYSE:LUV)

• On Sept. 10, Southwest Airlines announced next phase of comprehensive board refreshment. Executive Chairman Gary Kelly has announced his intention to voluntarily retire from the Board and his Executive Chairman position effective immediately after the 2025 Annual Meeting. The company's stock gained around 17% over the past month and has a 52-week high of $35.18.
• RSI Value: 70.57                              
• LUV Price Action: Shares of Southwest gained 0.1% to close at $29.73 on Monday.

China Yuchai International Limited (NYSE:CYD)

• On Aug. 14, China Yuchai announced an update of its share buyback plan. The company reported $38.5 million in share repurchases, approaching target in ongoing $40 million buyback plan. The company's stock gained around 10% over the past month and has a 52-week high of $12.15.
• RSI Value: 72.11
• CYD Price Action: Shares of China Yuchai International gained 0.7% to close at $11.77 on Monday.

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Posted In: CYD LUV