Benzinga - by Avi Kapoor, Benzinga Staff Writer.
As of May 21, 2024, five 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.
Costco Wholesale Corporation (NASDAQ:COST)
- On May 8, Costco Wholesale reported April sales results of $19.80 billion. The company's stock gained around 11% over the past month and has a 52-week high of $804.56 .
- RSI Value: 70.76
- COST Price Action: Shares of Costco Wholesale fell 0.4% to close at $793.00 on Monday.
- On May 7, Celsius Holdings reported worse-than-expected first-quarter sales results. Quarterly revenues of $355.708 million, missing the street view of $389.861 million. The company's stock gained around 38% over the past month and has a 52-week high of $99.62.
- RSI Value: 75.39
- CELH Price Action: Shares of Celsius Holdings rose 3.3% to close at $96.09 on Monday.
- On May 9, Vital Farms reported better-than-expected first-quarter sales results and issued FY24 revenue guidance above estimates. “2024 is off to a very strong start with record net revenue in the first quarter of $147.9 million, reflecting net revenue growth of 24.1%. Thanks to our stakeholders, including farmers and suppliers, customers and consumers, communities and the environment, crew members, and stockholders, we are able to succeed in our mission of bringing ethical food to the table,” said Russell Diez-Canseco, Vital Farms’ President and CEO. The company's stock gained around 54% over the past month and has a 52-week high of $39.55.
- RSI Value: 81.27
- VITL Price Action: Shares of Vital Farms gained 3.5% to close at $38.97 on Monday.
- On April 24, Mama’s Creations reported better-than-expected fourth-quarter financial results. The company's stock jumped around 36% over the past month and has a 52-week high is $7.02.
- RSI Value: 71.18
- MAMA Price Action: Shares of Mama’s Creations rose 2.4% to close at $6.93 on Monday.
- On May 15, Webuy Global announced the launch of its travel business in Indonesia. The company's stock jumped around 110% over the past month and has a 52-week high of $14.30.
- RSI Value: 82.37
- WBUY Price Action: Shares of Webuy Global rose 9% to close at $0.7140 on Monday.
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