Benzinga - The most overbought stocks in the real estate sector presents an opportunity to go short on these overvalued companies.
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.
Here’s the latest list of major overbought players in this sector.
Comstock Holding Companies Inc (NASDAQ: CHCI)
- Comstock Holding, during November, posted Q3 earnings of $0.37 per share, up from $0.34 per share in the year-ago period. The company’s stock has a 52-week high of $6.10 .
- RSI Value: 70.30
- CHCI Price Action: Shares of Comstock Holding jumped 13.1% to close at $4.93 on Thursday.
- LuxUrban Hotels increased its growth capital by $5 million via amended revenue share agreement. The company’s stock has a 52-week high of $5.00.
- RSI Value: 85.00
- LUXH Price Action: Shares of Luxurban Hotels gained 3.8% to close at $2.75 on Thursday.
- Rafael Holdings posted a Q1 loss of $0.22 per share, versus a year-ago loss of $0.75 per share. The company has a 52-week high of $3.61.
- RSI Value: 71.41
- RFL Price Action: Shares of Rafael Holdings gained 0.4% to close at $2.26 on Thursday.
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