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.

Here’s the latest list of major overbought players in this sector.

LifeVantage Corporation (NASDAQ:LFVN)

• LifeVantage extended stock repurchase program until Dec. 31, 2026. The company’s stock has a 52-week high of $5.74 .
• RSI Value: 70.89
• LFVN Price Action: Shares of LifeVantage fell 4.4% to close at $5.26 on Thursday.

Molson Coors Beverage Company (NYSE:TAP)

• B of A Securities recently upgraded Molson Coors Beverage from Underperform to Neutral and raised the price target from $54 to $68. The company’s stock has a 52-week high of $68.13.
• RSI Value: 70.97
• TAP Price Action: Shares of Molson Coors Beverage fell 1.3% to close at $66.60 on Thursday.

The Vita Coco Company, Inc. (NASDAQ:COCO)

• The Vita Coco Company announced upsizing and pricing of public offering of 5 million shares at $23.00 per share. The company has a 52-week high of $29.70.
• RSI Value: 72.35
• COCO Price Action: Shares of Vita Coco fell 0.7% to close at $29.10 on Thursday.

Lifecore Biomedical, Inc. (NASDAQ:LFCR)

• Lifecore Biomedical reported a third-quarter FY23 revenue decline of 26% Y/Y to $27.60 million, missing the consensus of $28 million. "In combination with the sale of our remaining Curation Foods segment business in early April, Lifecore is beginning a new chapter as a stand-alone CDMO," CEO James Hall said. The company’s 52-week high is $11.96.
• RSI Value: 73.88
• LFCR Price Action: Shares of Lifecore Biomedical fell 0.6% to close at $8.55 on Thursday.

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

• HSBC analyst Carlos Laboy upgraded Fomento Economico from Reduce to Hold and raised the price target from $84 to $112. The company has a 52-week high of $110.92.
• RSI Value: 82.03
• FMX Price Action: Shares of Fomento Económico Mexicano fell 0.1% to settle at $110.46 on Thursday.

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