The most overbought stocks in the financial sector presents an opportunity to go short on these overvalued companies. Here’s the latest list of major overbought players in this sector, with an RSI above or near 70.
Prudential plc PUK
- Prudential shares have dropped 10% over the past six months. The company’s stock has a 52-week high of $36.84 .
- RSI: 70.35
- PUK Price Action: Shares of Prudential fell 1.4% to settle at $26.31 on Monday, and gained 3.6% in the pre-market trading session on Tuesday.
Tradeweb Markets Inc. TW
- Raymond James upgraded Tradeweb Markets from Market Perform to Outperform and announced a $74 price target. Tradeweb reported a partnership with BlackRock to further electronify corporate bond market. The company’s stock has a 52-week high of $102.33.
- RSI: 80.34
- TW Price Action: Shares of Tradeweb Markets gained 1.4% to close at $65.48 on Monday, and gained 2.4% in pre-market trading.
ING Groep N.V. ING
- ING Groep, last month, reported weaker-than-expected earnings for its third quarter. The company has a 52-week high of $15.97.
- RSI: 71.34
- ING Price Action: Shares of ING Groep rose 0.4% to close at $11.95 on Monday, and added 2.4% in today’s pre-market trading session.
American International Group, Inc. AIG
- AIG, last month, reported downbeat earnings for its third quarter. The company’s 52-week high is $65.73.
- RSI: 76.39
- AIG Price Action: Shares of American International Group gained 1.6% to close at $63.51 on Monday and gained 2.3% in today’s pre-market trading.
Willis Towers Watson Public Limited Company WTW
- MKM Partners recently maintained Willis Towers Watson with a Buy and raised the price target from $250 to $285. The company, during October, posted upbeat quarterly earnings. The company has a 52-week high of $249.27.
- RSI: 70.23
- WTW Price Action: Shares of Willis Towers Watson gained 0.2% to settle at $245.06 on Monday and added 1.8% in the pre-market trading session.
© 2023 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.