Top 3 Defensive Stocks That May Fall Off A Cliff This Quarter

As of June 21, 2024, three stocks in the consumer staples sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

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, according to Benzinga Pro.

Here's the latest list of major overbought players in this sector.

Sadot Group Inc SDOT

• On May 15, Sadot Group posted a first-quarter GAAP loss of 1 cent per share. “Despite the revenue decline, I am pleased to report that through other areas of our business we improved our net income, improved our EBITDA, increased our total assets, and improved our working capital surplus. Importantly, we believe the market is showing indications that the headwinds on revenue may begin to subside in Q2 and Q3,” said Michael Roper. The company's stock gained around 21% over the past five days and has a 52-week high of $1.47.
• RSI Value: 70.74                              
• SDOT Price Action: Shares of Sadot Group rose 5.3% to close at $0.34 on Thursday.
• Benzinga Pro's real-time newsfeed alerted to latest SDOT’s news

Walmart Inc WMT

• On June 20, Evercore ISI Group analyst Greg Melich maintained Walmart with an Outperform rating and raised the price target from $72 to $73. The company's stock gained around 3% over the past five days and has a 52-week high of $68.13.
• RSI Value: 73.49
• WMT Price Action: Shares of Walmart rose 0.6% to close at $68.01 on Thursday.
• Benzinga Pro's charting tool helped identify the trend in WMT’s stock

Coffee Holding Co., Inc. JVA

• The company's stock gained around 16% over the past five days and has a <a href=”https://www.benzinga.com/quote/JVA”><em> 52-week high </em></a> of $1.85.
• RSI Value: 79.90
• JVA Price Action: Shares of Coffee Holding gained 15% to close at $1.64 on Thursday.

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