As of Dec. 9, 2024, three 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.

Golar LNG Limited (NASDAQ:GLNG)

• On Nov. 12, Golar LNG reported quarterly sales of $64.81 million which missed the analyst consensus estimate of $77.62 million by 16.51%. The company has a 52-week high of $19.94.
• RSI Value: 70.46                              
• GLNG Price Action: Shares of GLNG gained 0.4% to close at $42.45 on Friday.

New Fortress Energy Inc (NASDAQ:NFE)

• On Nov. 7, New Fortress Energy posted better-than-expected quarterly earnings. “This has been a strong and steady third quarter for the company as we achieved Adjusted EBITDA of $176 million, matching our guidance of $175 million. This was largely the result of steady volume demand from our terminals and the addition of Fast LNG cargos in our supply portfolio as the liquefier reached nameplate production.” The company's stock gained around 27% over the past month and has a 52-week high of $7.82.
• RSI Value: 75.92
• NFE Price Action: Shares of New Fortress Energy gained 3.8% to close at $12.41 on Friday.

Profire Energy, Inc. (NASDAQ:PFIE)

• On Nov. 6, Profire Energy posted in-line quarterly earnings. The company's stock gained around 76% over the past six months and has a 52-week high of $1.33.
• RSI Value: 84.40
• PFIE Price Action: Shares of Profire Energy closed at $2.54 on Friday.

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