The most overbought stocks in the consumer discretionary 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.
Xcel Brands, Inc. (NASDAQ: XELB)
Xcel Brands filed for non-timely 10-Q with the U.S. SEC for the three months ended March 31, 2023, expects to report net ...
Related tickers: BGI, RUTH, CMG, XELB, NGMS.
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