Top 2 Energy Stocks That May Dip This Quarter

Author: Avi Kapoor | December 23, 2024 09:38am

As of Dec. 23, 2024, two stocks in the energy 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.

Profire Energy, Inc. (NASDAQ:PFIE)

• On Nov. 6, Profire Energy posted in-line quarterly earnings. The company's stock surged around 79% over the past six months and has a 52-week high of $2.55.
• RSI Value: 70                                   
• PFIE Price Action: Shares of Profire Energy closed at $2.54 on Friday.

Adams Resources & Energy Inc (NYSE:AE)

• On Nov. 12, Adams Resources & Energy posted better-than-expected quarterly sales. “We are encouraged by the increase in Adjusted EBITDA from crude oil marketing operations, as higher oil prices compared to the prior-year quarter more than offset the lower volumes related to our exit of the Red River operations in the fourth quarter of 2023,” said Kevin Roycraft, President and CEO of the Company. The company's stock gained around 52% over the past six months and has a 52-week high of $37.90.
• RSI Value: 76
• AE Price Action: Shares of Adams Resources & Energy closed at $37.30 on Friday.

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Posted In: AE PFIE