As of Dec. 27, 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.
KULR Technology Group Inc (NYSE:KULR)
- On Dec. 26, the company announced it invested $21 million in Bitcoin as part of its treasury strategy.. The company's stock surged around 567% over the past month and has a 52-week high of $4.94.
- RSI Value: 91
- KULR Price Action: Shares of KULR Technology jumped 40.4% close at $4.80 on Thursday.
Boeing Co (NYSE:BA)
- Boeing is reportedly witnessing an increased number of its engineers leaving for space companies. The average tenure of a Boeing engineer has dropped to 12.6 years from 16.4 years over the last decade, the Financial Times reported, citing data from the Society of Professional Engineering Employees in Aerospace, a union representing 12,000 Boeing engineers. As per union data, the tenure is shortening in every age bracket. The company's stock gained around 18% over the past month and has a 52-week high of $264.66.
- RSI Value: 75
- BA Price Action: Shares of Boeing gained 0.6% to close at $180.38 on Thursday.
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