27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.
The most overbought stocks in the consumer staples 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.
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Here’s the latest list of major overbought players in this sector.
Beyond Meat, Inc. (NASDAQ:BYND)
- Beyond Meat Chief Brand Officer is leaving the company, the Wall Street Journal reported. The company’s stock has a 52-week high of $68.06 .
- RSI Value: 70.03
- BYND Price Action: Shares of Beyond Meat gained 11.3% to settle at $16.83 on Monday and lost 0.1% in after-hours trading.
Dole plc (NYSE:DOLE)
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- Dole, during November, posted upbeat Q3 earnings. The company’s stock has a 52-week high of $15.78.
- RSI Value: 71.73
- DOLE Price Action: Shares of Dole gained 3.9% to close at $10.50 on Monday and added 1.1% in after-hours trading.
Coca-Cola FEMSA, S.A.B. de C.V. (NYSE:KOF)
- B of A Securities upgraded the stock from Neutral to Buy and raised its price target from $137 to $157. The company has a 52-week high of $75.17.
- RSI Value: 71.31
- KOF Price Action: Shares of Coca-Cola FEMSA rose 3.6% to close at $73.38 on Monday and added 0.4% in after-hours trading.
The Estée Lauder Companies Inc. (NYSE:EL)
- Morgan Stanley recently maintained Estee Lauder with an Overweight and raised the price target from $271 to $281. The company’s 52-week high is $324.70.
- RSI Value: 72.36
- EL Price Action: Shares of Estée Lauder rose 2.6% to close at $274.49 on Monday.
Compañía Cervecerías Unidas S.A. (NYSE:CCU)
- The company’s stock gained 17% over the past month. The company has a 52-week high of $17.21.
- RSI Value: 77.63
- CCU Price Action: Shares of Compañía Cervecerías Unidas rose 2.5% to settle at $15.07 on Monday and lost 3% in after-hours trading.
Read More: 3 Stocks Insiders Are Buying: Coinbase Global And More
27% profit every 20 days?
This is what Nic Chahine averages with his option buys. Not selling covered calls or spreads… BUYING options. Most traders don’t even have a winning percentage of 27% buying options. He has an 83% win rate. Here’s how he does it.