Top 5 Industrials Stocks That May Plunge

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.

Virgin Galactic Holdings, Inc. SPCE

• Virgin Galactic Holdings announced an updated leadership structure to support commercial spaceline operations. The company’s stock has a 52-week high of $11.25 .
• RSI Value: 75.06
• SPCE Price Action: Shares of Virgin Galactic rose 7.7% to settle at $4.62 on Thursday and added 19.8% in pre-market trading.

Redwire Corporation RDW

• The company’s stock gained 34% over the past month. The company’s stock has a 52-week high of $8.78.
• RSI Value: 74.85
• RDW Price Action: Shares of Redwire gained 19.9% to close at $2.71 on Thursday and added 3.3% in today’s pre-market trading.

Orion Group Holdings, Inc. ORN

• Orion Group, during November, announced contract awards totaling $128 million. The company has a 52-week high of $3.83.
• RSI Value: 73.77
• ORN Price Action: Shares of Orion Group fell 3% to close at $2.92 on Thursday and added 4.5% in after-hours trading.

Pitney Bowes Inc. PBI

• Pitney Bowes, last month, was awarded $375,000 enterprise postal systems and services contract by U.S. Dept of the Army. The company’s 52-week high is $6.60.
• RSI Value: 73.35
• PBI Price Action: Shares of Pitney Bowes fell 1.7% to close at $4.71 on Thursday and lost 3.4% in after-hours trading.

EHang Holdings Limited EH

• EHang, last month, announced partnership and investment with Qingdao West Coast New Area. The company has a 52-week high of $18.77.
• RSI Value: 73.05
• EH Price Action: Shares of EHang Holdings gained 3% to settle at $13.02 on Thursday and added 1.5% in today’s pre-market trading session.

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