Top 4 Industrials Stocks You May Want To Dump In Q4

The most overbought stocks in the industrials 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.

Grindrod Shipping Holdings Ltd. GRIN

Alliance Global Partners analyst Poe Fratt downgraded Grindrod Shipping from Buy to Neutral. The company’s stock has a 52-week high of $26.29. .
RSI Value: 74.05
GRIN Price Action: Shares of Grindrod Shipping jumped 6.6% to close at $13.00 on Monday.

Park-Ohio Holdings Corp. PKOH

Park-Ohio Hldgs posted better-than-expected earnings for the second quarter. Matthew V. Crawford, Chairman, Chief Executive Officer and President, stated, “Record revenue during the second quarter was the result of continued strength across almost all our end markets. Our earnings metrics also show substantial progress resulting from restructuring achieved in prior periods, ongoing operational improvements, and improved commercial terms.” The company’s stock has a 52-week high of $23.70.
RSI Value: 71.17
PKOH Price Action: Shares of Park-Ohio Holdings gained 1.4% to close at $23.45 on Monday.

Booz Allen Hamilton Holding Corporation BAH

Booz Allen Hamilton Holding secured a seven-year, $630-million, single-award contract from the U.S. Space Force. The company has a 52-week high of $129.08.
RSI Value: 78.30
BAH Price Action: Shares of Booz Allen Hamilton gained 0.6% to close at $128.70 on Monday.

SP Plus Corporation SP

SP Plus entered into a definitive agreement to be acquired by Metropolis Technologies, Inc. for $54.00 per share in cash. "SP+ is a phenomenal business whose operational excellence, talented leadership team and high customer satisfaction levels have long made it a key partner to real estate owners across North America," said Alex Israel, Co-founder and CEO of Metropolis. The company’s 52-week high is $52.40.
RSI Value: 81.53
SP Price Action: Shares of SP Plus fell 0.6% to close at $50.81 on Monday.