As of May 7, 2024, three 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.

Excelerate Energy, Inc. (NYSE:EE)

• Excelerate Energy is expected to release its first quarter 2024 results after the closing bell, on Wednesday, May 8. The company's stock gained around 15% over the past month and has a 52-week high of $22.42.
• RSI Value: 71.62
• EE Price Action: Shares of Excelerate Energy gained 3.1% to close at $17.95 on Friday.

North European Oil Royalty Trust (NYSE:NRT)

• On April 30, North European Oil Royalty Trust announced a distribution of 20 cents per unit for the second quarter of fiscal 2024. The company's stock gained around 14% over the past five days and has a 52-week high of $16.36
• RSI Value: 72.92
• NRT Price Action: Shares of North European Oil Royalty Trust fell 0.1% to close at $8.35 on Monday.

Tidewater Inc. (NYSE:TDW)

• On May 2, Tidewater posted upbeat quarterly results. Quintin Kneen, Tidewater's President and Chief Executive Officer, commented, "First quarter results came in nicely above our expectations, especially for a period that is typically the slowest quarter of the year due to seasonality in certain markets and a front-loaded drydock schedule." The company's stock gained around 12% over the past five days and has a 52-week high of $109.66.
• RSI Value: 71.77
• TDW Price Action: Shares of Tidewater gained 0.7% to close at $107.29 on Monday.

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