Top 4 Energy Stocks That May Crash In May

Author: Lisa Levin | May 08, 2023 08:59am

The most overbought stocks in the energy 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.

Transportadora de Gas del Sur S.A. (NYSE:TGS)

• The company’s shares jumped around 13% over the past month. The company’s stock has a 52-week high of $12.78 .
• RSI Value: 70.94
• TGS Price Action: Shares of Transportadora de Gas del Sur rose 8.9% to close at $11.75 on Friday.

Atomera Incorporated (NASDAQ:ATOM)

• Atomera posted a wider-than-expected quarterly loss. The company also inked a commercial license deal with STMicroelectronics N.V. "The new commercial license agreement demonstrates Atomera is moving toward production, and we believe MST will become increasingly utilized among leading semiconductor manufacturers," said Scott Bibaud, President and CEO. The company’s stock has a 52-week high of $15.10.
• RSI Value: 77.18
• ATOM Price Action: Shares of Atomera rose 5.6% to close at $9.70 on Friday.

Comstock Inc. (NYSE:LODE)

• Comstock posted a narrower-than-expected Q1 loss. “Over the past three months, we monetized non-strategic assets and positioned ourselves to meet or exceed our $30 million target this year. We have also advanced our fuels, metals, and mining lines of business, and GenMat, our strategic investee, announced a customer demonstration of their physics-based general artificial intelligence capabilities,” said Corrado De Gasperis, Comstock’s executive chairman and chief executive officer. The company has a 52-week high of $0.9000.
• RSI Value: 82.33
• LODE Price Action: Shares of Comstock rose 5% to close at $0.6301 on Friday.

Ultrapar Participações S.A. (NYSE:UGP)

• Ultrapar recently reported earnings for its first quarter. The company’s 52-week high is $3.30.
• RSI Value: 74.77
• UGP Price Action: Shares of Ultrapar Participações rose 2.8% to close at $3.29 on Friday.

 

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Posted In: ATOM LODE TGS UGP