Top Utilities Stocks That May Dip

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.

VivoPower International PLC VVPR

• VivoPower announced strategic investment, financing and development update for Tembo. The company’s stock has a 52-week high of $2.89.
• RSI Value: 91.73
• VVPR Price Action: Shares of VivoPower International gained 19.5% to trade at $0.7615 on Friday.

Cadiz Inc. CDZI

• Cadiz priced its registered direct offering of 10.5 million shares for total gross proceeds of $40.32 million. The company’s stock has a 52-week high of $5.23.
• RSI Value: 73.19
• CDZI Price Action: Shares of Cadiz jumped 13% to trade at $4.69 on Friday.

Via Renewables, Inc. VIA

• Via Renewables, during November, posted a Q3 loss of $0.18 per share. The company has a 52-week high of $11.68.
• RSI Value: 71.81
• VIA Price Action: Shares of Via Renewables fell 1.3% to trade at $6.72 on Friday.

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