Top 2 Energy Stocks That May Crash In Q1 2023

The most overbought stocks in the energy 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.

DHT Holdings, Inc. DHT

• DHT reported better-than-expected Q4 EPS and sales results. The company posted quarterly earnings of $0.38 per share on sales of $116.74 million. The company’s stock has a 52-week high of $12.13 .
• RSI Value: 72.22
• DHT Price Action: Shares of DHT Holdings fell 1.1% to close at $11.66 on Thursday.

Geospace Technologies Corporation GEOS

• Geospace Technologies posted a Q1 loss of $0.01 per share. Walter R. ("Rick") Wheeler, President and CEO of the Company said, "We’re pleased to see that revenue for our first quarter of fiscal year 2023 exceeded $31 million. This is an increase of 73% over last year’s same period and represents the Company’s highest amount of quarterly revenue in the last eight-and-half years, namely since June of 2014." The company’s stock has a 52-week high of $7.17.
• RSI Value: 79.24
• GEOS Price Action: Shares of Geospace Technologies gained 1% to close at $7.03 on Thursday.

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