Top 4 Defensive Stocks That You May Want To Dump This Month

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.

Lifecore Biomedical, Inc. LFCR

• Lifecore Biomedical, last month, announced sale of Curation Foods' O Olive Oil and Vinegar Business for $6.23 million. The company’s stock has a 52-week high of $11.96 .
• RSI Value: 73.20
• LFCR Price Action: Shares of Lifecore Biomedical jumped 10.2% to close at $4.98 on Wednesday.

Celsius Holdings, Inc. CELH

• Celsius reported better-than-expected first-quarter sales results. The company’s stock has a 52-week high of $135.19.
• RSI Value: 87.25
• CELH Price Action: Shares of Celsius Holdings rose 0.7% to close at $133.13 on Wednesday.

LifeVantage Corporation LFVN

• Lifevantage said third-quarter sales results were higher year over year. “Third quarter results demonstrate significant early progress of our LV360 strategic transformation initiatives, including our new Evolve compensation plan,” said Steve Fife, President and Chief Executive Officer of Life Vantage. The company has a 52-week high of $4.92.
• RSI Value: 78.33
• LFVN Price Action: Shares of LifeVantage rose 0.2% to close at $4.55 on Wednesday.

Coca-Cola Consolidated, Inc. COKE

• Coca-Cola Consolidated said first-quarter EPS and sales results were higher year over year. “We are off to a very good start to 2023 with solid operating performance and strong financial results,” said J. Frank Harrison, III, Chairman and Chief Executive Officer. The company’s 52-week high is $694.20.
• RSI Value: 71.14
• COKE Price Action: Shares of Coca-Cola Consolidated rose 0.2% to close at $638.00 on Wednesday.

Read More: Wall Street's Most Accurate Analysts Say Hold These 3 Tech And Telecom Stocks Delivering High-Dividend Yields