Top 5 Utilities Stocks That You May Want To Dump In Q2

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The most overbought stocks in the utilities 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.

Kenon Holdings Ltd. KEN

  • Kenon posted FY22 revenue of $574 million. In March 2023, the company’s board of directors also authorized a share repurchase plan of up to $50 million. The company’s stock has a 52-week high of $62.96 .
  • RSI Value: 71.37
  • KEN Price Action: Shares of Kenon Holdings rose 0.2% to close at $31.84 on Wednesday.

Consolidated Water Co. Ltd. CWCO

  • Consolidated Water posted upbeat Q4 sales. The company’s stock has a 52-week high of $20.58.
  • RSI Value: 75.40
  • CWCO Price Action: Shares of Consolidated Water rose 1.6% to close at $17.03 on Wednesday.

Edison International EIX

  • Edison reported better-than-expected Q4 adjusted EPS results. "Edison International posted strong results for 2022, with core EPS in the upper end of our initial guidance range," said Pedro J. Pizarro, president and CEO of Edison International. The company has a 52-week high of $73.32.
  • RSI Value: 70.49
  • EIX Price Action: Shares of Edison International gained 2.8% to close at $72.26 on Wednesday.
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The Southern Company SO

  • Southern posted upbeat quarterly results. The company’s 52-week high is $80.57.
  • RSI Value: 73.15
  • SO Price Action: Shares of Southern rose 2.7% to close at $71.50 on Wednesday.

CenterPoint Energy, Inc. CNP

  • CenterPoint Energy named Christopher Foster as Executive Vice President, CFO. The company has a 52-week high of $33.50.
  • RSI Value: 71.28
  • CNP Price Action: Shares of CenterPoint Energy rose 3.2% to settle at $30.39 on Wednesday.

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Posted In: NewsShort IdeasSmall CapPre-Market OutlookMarketsTrading IdeasExpert IdeasOverbought stocksRSIutilities stocks

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