The most overbought stocks in the consumer discretionary 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.

Modine Manufacturing Company (NYSE:MOD)

• Modine Manufacturing reported better-than-expected first-quarter financial results and revised FY24 net revenue outlook. "This was an incredible quarter for Modine, with record revenue and significant margin expansion, as both segments exceeded expectations by driving strong growth and operational improvements," said Modine President and Chief Executive Officer, Neil D. Brinker. The company’s stock has a 52-week high of $47.48. .
• RSI Value: 71.49
• MOD Price Action: Shares of Modine Manufacturing fell 4.5% to close at $44.16 on Tuesday.

Genius Group Limited (NYSE:GNS)

• Genius Group recentlyannounced it received a Warning Letter from NYSE regarding the manner of disclosures from March 2023 events via Twitter.. The company’s stock has a 52-week high of $11.80.
• RSI Value: 76.12
• GNS Price Action: Shares of Genius Group fell 10.7% to close at $1.42 on Tuesday.

MakeMyTrip Limited (NASDAQ:MMYT)

• MakeMyTrip reported better-than-expected first-quarter financial results.. The company has a 52-week high of $37.38.
• RSI Value: 77.77
• MMYT Price Action: Shares of MakeMyTrip fell 2.5% to close at $36.41 on Tuesday.

Perdoceo Education Corporation (NASDAQ:PRDO)

Light & Wonder, Inc. (NASDAQ:LNW)

Read More: Investor Sentiment Declines Further After Weak China Data