Top 5 Industrials Stocks You May Want To Dump This Quarter

Author: Lisa Levin | April 18, 2023 08:49am

The most overbought stocks in the industrials 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.

Symbotic Inc. (NASDAQ:SYM)

• Symbotic reported better-than-expected Q1 sales results. “Symbotic achieved triple-digit revenue growth and added to our base of outsourcing partners during the first quarter. We are optimistic about our outlook and are poised for continued strong growth,” said Symbotic Chairman and Chief Executive Officer Rick Cohen. The company’s stock has a 52-week high of $30.29 .
• RSI Value: 71.08
• SYM Price Action: Shares of Symbotic fell 2.4% to close at $27.27 on Monday.

FTI Consulting, Inc. (NYSE:FCN)

• FTI Consulting reported better-than-expected Q4 adjusted EPS and sales results and issued guidance. Steven H. Gunby, President and Chief Executive Officer of FTI Consulting, said, “We are pleased that in 2022, we once again reported record revenues, Adjusted EBITDA and Adjusted EPS.” The company’s stock has a 52-week high of $205.63.
• RSI Value: 73.96
• FCN Price Action: Shares of FTI Consulting fell 0.8% to close at $202.35 on Monday.

Triton International Limited (NYSE:TRTN)

• Triton International agreed to be acquired by Brookfield Infrastructure Corporation, a subsidiary of Brookfield Infrastructure Partners LP Limited. The company has a 52-week high of $83.82.
• RSI Value: 83.65
• TRTN Price Action: Shares of Triton International fell 0.2% to close at $83.41 on Monday.

Mistras Group, Inc. (NYSE:MG)

• MISTRAS Group posted better-than-expected earnings for its fourth quarter. Chief Executive Officer Dennis Bertolotti said, “As a result of a solid fourth quarter, we met our most recent top-line and exceeded our bottom-line guidance for the year.” The company’s 52-week high is $8.31.
• RSI Value: 72.50
• MG Price Action: Shares of Mistras Group rose 4.1% to close at $8.13 on Monday.

SkyWest, Inc. (NASDAQ:SKYW)

• Raymond James recently upgraded SkyWest from Underperform to Market Perform. The company has a 52-week high of $33.35.
• RSI Value: 70.37
• SKYW Price Action: Shares of SkyWest rose 0.9% to settle at $23.87 on Monday.

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Posted In: FCN MG SKYW SYM TRTN