Top 4 Industrials Stocks That May Plunge

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The most overbought stocks in the industrials 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.

Kimball International, Inc. KBAL

  • HNI Corporation announced it will acquire Kimball International for $485 million. The company’s stock has a 52-week high of $12.63 .
  • RSI Value: 82.72
  • KBAL Price Action: Shares of Immuneering gained 0.9% to close at $12.26 on Tuesday.

FTI Consulting, Inc. FCN

  • FTI Consulting reported better-than-expected Q4 adjusted EPS and sales results and issued guidance. Steven H. Gunby, President and Chief Executive Officer of FTI Consulting, commented, "We are pleased that in 2022, we once again reported record revenues, Adjusted EBITDA and Adjusted EPS. That strength and durability, to me, are consequences of our teams’ commitment to invest behind our people and positions, independent of market conditions, a commitment which has allowed us to increasingly serve our clients as they face their most significant opportunities and challenges." The company’s stock has a 52-week high of $201.63.
  • RSI Value: 77.51
  • FCN Price Action: Shares of FTI Consulting rose 0.5% to close at $196.14 on Tuesday.
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Atlas Technical Consultants, Inc. ATCX

  • Atlas Technical Consultants secured project management contract for BREC in Louisiana. The company has a 52-week high of $13.57.
  • RSI Value: 74.94
  • ATCX Price Action: Shares of Atlas Technical Consultants gained 0.3% to close at $12.15 on Tuesday.

Perma-Fix Environmental Services, Inc. PESI

  • Perma-Fix Environmental, during November, posted a decline in quarterly earnings. The company’s 52-week high is $8.96.
  • RSI Value: 73.95
  • PESI Price Action: Shares of Perma-Fix Environmental Services fell 3.5% to close at $8.31 on Tuesday.

Read More: Investor Fear Eases Following Rebound In Bank Shares

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