As of Aug 9, 2024, two stocks in the consumer staples 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.

Haleon PLC – ADR (NYSE:HLN)

• On Aug. 1, Haleon posted weak H1 sales results. The company's stock gained around 12% over the past month and has a 52-week high of $9.73.
• RSI Value: 75.08
• HLN Price Action: Shares of Haleon gained 0.1% to close at $9.62 on Thursday.

Kellanova (NYSE:K)

• Mars Inc., the renowned confectionery and pet food company, is reportedly considering acquiring Kellanova. Mars Inc. is contemplating a potential acquisition of Kellanova. The latter, which also produces other well-known snacks, has a market value of approximately $27 billion, including debt, Reuters, reported citing people familiar with the matter. The company's stock gained around 32% over the past month and has a 52-week high of $75.40.
• RSI Value: 86.61
• K Price Action: Shares of Kellanova gained 1.9% to close at $74.35 on Thursday.

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