Top 3 Materials Stocks That May Keep You Up At Night This Quarter
Author: Avi Kapoor | November 30, 2024 09:32pm
As of Nov. 29, 2024, three stocks in the materials 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.
SunCoke Energy Inc (NYSE:SXC)
- On Oct. 31, SunCoke Energy reported better-than-expected third-quarter financial results. “Our domestic coke fleet continued running at full capacity this quarter, and our logistics segment again delivered strong results,” said Katherine Gates, President and CEO of SunCoke Energy, Inc. The company's stock gained around 44% over the past month and has a 52-week high of $12.82.
- RSI Value: 70.02
- SXC Price Action: Shares of SunCoke Energy gained 1.5% to close at $12.48 on Wednesday.
Silgan Holdings Inc (NYSE:SLGN)
- On Oct. 30, Silgan Hldgs posted downbeat quarterly results. “Our third quarter results continued to benefit from the success of our long-term strategic growth initiatives, the power of the Silgan portfolio and the strength and agility of our operating teams,” said Adam Greenlee, President and CEO. The company's stock gained around 12% over the past month and has a 52-week high of $58.14.
- RSI Value: 74.88
- SLGN Price Action: Shares of Silgan gained 0.5% to close at $57.45 on Wednesday.
Packaging Corp Of America (NYSE:PKG)
- On Oct. 22, Packaging Corp of America posted upbeat quarterly earnings. The company's stock gained around 9% over the past month and has a 52-week high of $250.82.
- RSI Value: 73.19
- PKG Price Action: Shares of Packaging Corp fell 0.4% to close at $247.03 on Wednesday.
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Posted In: PKG SLGN SXC
