HomeMarket NewsSmall CapsThe Stocks in the Materials Sector Poised for a Decline this Month

The Stocks in the Materials Sector Poised for a Decline this Month

Actionable Trade Ideas

always free

image39

There is an opportunity to take short positions on the most overbought stocks in the materials sector, which are currently overvalued companies.

The Relative Strength Index (RSI) is a momentum indicator that compares a stock’s strength on days when prices rise to its strength on days when prices fall. By analyzing a stock’s price action, the RSI can provide traders with insight into how the stock may perform in the short term. Generally, when the RSI is above 70, it indicates that an asset is overbought.

Here is the updated list of major overbought players in the materials sector.

Inter & Co, Inc. INTR

  • Inter & Co reported earnings for the second quarter that were in line with expectations. JoΓ£o Vitor Menin, CEO of Inter & Co, expressed, β€œThis quarter represents an important turning point in our company’s history – it was a record-breaking quarter, with significant accomplishments in various areas. We are firing on all cylinders, showcasing Inter at its finest.” The company’s stock currently has a 52-week high of $4.63.
  • RSI Value: 70.14
  • INTR Price Action: Inter & Co’s shares rose by 3% to close at $4.46 on Friday.

AptarGroup, Inc. ATR

  • AptarGroup reported strong earnings for the second quarter. Stephan B. Tanda, President and CEO of Aptar, stated, β€œAptar achieved double-digit EPS growth in the second quarter, with increased sales in our pharma proprietary dosing and dispensing systems and the success of our beauty dispensing solutions in fragrance.” The company’s stock currently has a 52-week high of $127.68.
  • RSI Value: 77.24
  • ATR Price Action: AptarGroup’s shares rose by 1.9% to close at $127.54 on Friday.

Hawkins, Inc. HWKN

  • Hawkins reported better-than-expected earnings for the first quarter. Patrick H. Hawkins, CEO and President, commented, β€œWe are pleased with our strong year-over-year performance in the first quarter, with a 19% increase in our bottom line. Our Water Treatment group led the way with 19% revenue growth and nearly 70% growth in operating income.” The company currently has a 52-week high of $58.82.
  • RSI Value: 75.55
  • HWKN Price Action: Hawkins’ shares rose by 1.3% to close at $58.40 on Friday.

Β 

Read More: Improved Investor Optimism Following Powell’s Speech

Source: Benzinga.com

Swing Trading Ideas and Market Commentary

Need some new swing ideas? Get free weekly swing ideas and market commentary from Jonathan Bernstein here: Swing Trading.

Explore More

Weekly In-Depth Market Analysis and Actionable Trade Ideas

Get institutional-level analysis and trade ideas to take your trading to the next level, sign up for free and become apart of the community.