As of Nov. 29, 2024, three shares within the supplies sector might be flashing an actual warning to traders who worth momentum as a key standards of their buying and selling choices.
The RSI is a momentum indicator, which compares a inventory’s energy on days when costs go as much as its energy on days when costs go down. When in comparison with a inventory’s value motion, it can provide merchants a greater sense of how a inventory could carry out within the brief time period. An asset is usually thought of overbought when the RSI is above 70, in response to Benzinga Professional.
This is the newest listing of main overbought gamers on this sector.
SunCoke Power Inc SXC
On Oct. 31, SunCoke Power reported better-than-expected third-quarter monetary outcomes. “Our home coke fleet continued working at full capability this quarter, and our logistics phase once more delivered sturdy outcomes,” mentioned Katherine Gates, President and CEO of SunCoke Power, Inc. The corporate’s inventory gained round 44% over the previous month and has a 52-week excessive of $12.82.
RSI Worth: 70.02
SXC Worth Motion: Shares of SunCoke Power gained 1.5% to shut at $12.48 on Wednesday.
Silgan Holdings Inc SLGN
On Oct. 30, Silgan Hldgs posted downbeat quarterly outcomes. “Our third quarter outcomes continued to learn from the success of our long-term strategic development initiatives, the ability of the Silgan portfolio and the energy and agility of our working groups,” mentioned Adam Greenlee, President and CEO. The corporate’s inventory gained round 12% over the previous month and has a 52-week excessive of $58.14.
RSI Worth: 74.88
SLGN Worth Motion: Shares of Silgan gained 0.5% to shut at $57.45 on Wednesday.
Packaging Corp Of America PKG
On Oct. 22, Packaging Corp of America posted upbeat quarterly earnings. The corporate’s inventory gained round 9% over the previous month and has a 52-week excessive of $250.82.
RSI Worth: 73.19
PKG Worth Motion: Shares of Packaging Corp fell 0.4% to shut at $247.03 on Wednesday.
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