Top 2 Utilities Stocks That May Fall Off A Cliff

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.

Vistra Corp. VST

• Vistra priced private offerings of $650 million of senior secured notes and $1.1 billion of senior unsecured notes. The company’s stock has a 52-week high of $34.28. .
• RSI Value: 76.32
• VST Price Action: Shares of Vistra gained 0.1% to close at $33.70 on Tuesday.

Consolidated Water Co. Ltd. CWCO

• Consolidated Water reported a second-quarter 2023 revenue increase of 110% year-over-year to $44.2 million, beating estimates of $30.27 million. “I‘m truly gratified and excited to mark the company’s 50th anniversary this month by reporting record quarterly and six-month financial results,” commented Consolidated Water CEO, Rick McTaggart. “In Q2, our revenue increased by 110% to $44.2 million, reflecting another strong period of growth across all four of our business segments.” The company’s stock has a 52-week high of $31.16.
• RSI Value: 75.48
• CWCO Price Action: Shares of Consolidated Water rose 0.1% to close at $30.36 on Tuesday.

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