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, according to Benzinga Pro.

• On Nov. 1, Pactiv Evergreen posted upbeat quarterly earnings. Michael King, President and Chief Executive Officer of Pactiv Evergreen, said, “I am proud of our team’s performance during the third quarter. The Company continued to execute at a high level, while managing costs and making further progress on its transformational journey.” The company’s stock jumped around 15% over the past month and has a 52-week high of $14.85 .
• RSI Value: 74.07
• PTVE Price Action: Shares of Pactiv Evergreen fell 1.7% to close at $14.25 on Wednesday.

• Ascent Industries Co. (NASDAQ:ACNT)

• On Dec. 26, 2023, Ascent Industries reported the sale of the business of Specialty Pipe & Tube for around $55 million in an all-cash deal. "We are proud of achieving this value-creating outcome for Ascent shareholders. While SPT is a unique and profitable business, the inherent cyclicality in its end-markets makes it a much better fit for the private markets," said Chris Hutter, president and CEO of Ascent. The company’s stock gained around 27% over the past month and has a 52-week high of $11.56.
• RSI Value: 71.02
• ACNT Price Action: Shares of Ascent Industries fell 0.4% to close at $9.81 on Wednesday.

• On Nov. 7, RYAM posted downbeat quarterly results. "Results for the third quarter reflected continued weak demand across many of our product categories. We are responding by reducing costs and taking opportunistic downtime across all segments. As previously announced, we have taken downtime at our High-Yield Pulp facility in the third and fourth quarters and expect to take downtime in Paperboard and at the High Purity Cellulose plant in Tartas in the fourth quarter," said De Lyle W. Bloomquist, RYAM’s President and Chief Executive Officer. The company’s stock jumped around 23% over the past month and has a 52-week high of $8.65.
• RSI Value: 71.00
• RYAM Price Action: Shares of Rayonier Advanced Materials gained 0.2% to close at $4.26 on Wednesday.