Top 2 Energy Stocks That Are Ticking Portfolio Bombs
Author: Avi Kapoor | January 07, 2025 09:14am
As of Jan. 7, 2025, two stocks in the energy sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
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, according to Benzinga Pro.
Here's the latest list of major overbought players in this sector.
PTL Ltd (NASDAQ:PTLE)
- On Nov. 6, PTL Limited announced full exercise of underwriter’s over-allotment option. The company's stock surged around 33% over the past month and has a 52-week high of $12.84.
- RSI Value: 76.4
- PTLE Price Action: Shares of PTL jumped 37.6% to close at $10.17 on Monday.
Mind Technology Inc (NASDAQ:MIND)
- On Dec. 10, Mind Technology announced better-than-expected third-quarter financial results. Rob Capps, MIND’s President and Chief Executive Officer, stated, “We are very pleased to report that third quarter revenue grew 21% sequentially and 143% over last year’s third quarter. We continue to capitalize on macro tailwinds and customer engagement to stimulate order flow and generate improved results. We are also continually working to improve our execution, efficiency and cost structure, which we expect to contribute to sustained profitability in future quarters." The company's stock gained around 73% over the past month and has a 52-week high of $8.55.
- RSI Value: 78.7
- MIND Price Action: Shares of Mind Technology fell 5.6% to close at $7.25 on Monday.
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Posted In: MIND PTLE
