The most overbought stocks in the consumer staples sector present an opportunity to go short on these overvalued companies.
RSI is a momentum indicator, which compares the strength of a stock on days when prices go up and days when prices go down. Compared to a stock’s price action, it can give traders a better understanding of how the stock is likely to perform in the short term. An asset is generally overbought when the RSI is above 70.
Here is the latest list of major overbought players in this sector.
Bit Brother Limited btb
- Bit Brother recently announced a 1-for-15 reverse share split. 52-week high of $11.16 ,
- RSI Value: 99.42
- BTB Price Action: Shares of Bit Brother settled at $10.83, up 4% on Tuesday and gained 5.4% in today’s pre-market trading session.
Mama Mancini’s Holdings, Inc. mmmb
- MamaMancini recently reported better-than-expected Q3 EPS and sales results. Company’s The stock is at a high of 52 weeks of $2.24.
- RSI Value: 70.46
- MMMB Price Action: Shares of Mamamancini Holdings closed down 1% at $1.4850 on Tuesday, and gained 3.7% in the later trading session.
Shinco, Inc. Small Industries Service Institute
- Shinco’s subsidiary received supplemental pre-approval from NMPA Jiangsu Bureau for marketing approval of “Cardiac 5-Minute Test”. Company has a 52 week high of $7.10.
- RSI Value: 86.06
- SISI Price Action: Shares of Shinco closed up 3.1% at $2.98 on Tuesday and fell 1% in after-hours trading.
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