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Warning Signs: Five Utilities Stocks in Danger Zone

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On November 27, 2023, the utilities sector served up warning signs for investors who thrive on momentum. Five stocks could be headed for a tumble, shaking the faith of traders who rely on fast-paced action in the market.

The RSI, a momentum indicator, is signaling potential danger for these stocks. It delves into a stock’s power on bullish versus bearish days, painting a picture of its short-term performance. An RSI above 70 typically flags an overbought asset, according to Benzinga Pro.

Take a look at the latest overbought players in this sector.

Via Renewables, Inc. VIA

  • Via Renewables navigated an intense quarter, but things may be heating up in an undesirable way. While the company reported a profit, there’s a risk of danger on the horizon. The stock’s 52-week high of $37.35 is now under the spotlight.
  • RSI Value: 73.25
  • VIA Price Action: Shares rose 1.2% to close at $9.25 on Friday.

Public Service Enterprise Group Incorporated PEG

  • Public Service Enterprise showed promise in its earnings, but is it too good to be true? While the company posted solid results, it might not be out of the woods yet. The stock’s 52-week high of $65.46 is raising eyebrows.
  • RSI Value: 70.52
  • PEG Price Action: Shares gained 0.7% to close at $65.09 on Friday.

DTE Energy Company DTE

  • DTE Energy hit a rough patch in its third-quarter earnings report, and the storm clouds may not clear anytime soon. Despite the company’s efforts, caution is in the air. The stock’s 52-week high of $122.41 is signaling troubles ahead.
  • RSI Value: 71.48
  • DTE Price Action: Shares rose 0.7% to close at $105.37 on Friday.

Consolidated Water Co. Ltd. CWCO

  • Consolidated Water turned heads with its third-quarter results, but the waters may get choppy soon. While the company reported strong numbers, it’s best to proceed with caution. The stock’s 52-week high of $36.70 is now under scrutiny.
  • RSI Value: 72.95
  • CWCO Price Action: Shares gained 0.8% to close at $36.08 on Friday.

Korea Electric Power Corporation KEP

  • Korea Electric Power Corporation witnessed a significant surge, but will it sustain its charge? The company’s stock made a big leap recently, but a cautionary tale may be in the making. The stock’s 52-week high of $8.85 sets the stage for uncertainty.
  • RSI Value: 74.88
  • KEP Price Action: Shares gained 3.2% to close at $7.20 on Friday.

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