Top 2 Utilities Stocks That That Could Sink Your Portfolio This Quarter

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.

Global Water Resources, Inc. GWRS

• Global Water Resources posted better-than-expected quarterly results. “In Q1, we continued to generate top-line growth and increased profitability over the same year-ago period,” commented Global Water Resources president and CEO, Ron Fleming. The company’s stock has a 52-week high of $15.00.
• RSI Value: 70.93
• GWRS Price Action: Shares of Global Water Resources rose 2.2% to close at $12.94 on Wednesday.

Consolidated Water Co. Ltd. CWCO

• Consolidated Water reported better-than-expected first-quarter sales results. “In Q1, our 68% increase in revenue to $32.9 million was driven by another quarter of strong growth across all of our business segments, with this reflecting a return to normalcy post-pandemic that helped drive increased activity and output across the board,” commented Consolidated Water CEO, Rick McTaggart. The company’s stock has a 52-week high of $24.66.
• RSI Value: 73.15
• CWCO Price Action: Shares of Consolidated Water rose 2.7% to close at $24.29 on Wednesday.

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