Top 5 Energy Stocks That May Collapse In Q3

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 Holdings posted downbeat quarterly earnings. The company’s stock has a 52-week high of $12.13. .
• RSI Value: 71.15
• DHT Price Action: Shares of DHT Holdings rose 0.1% to close at $10.03 on Friday.

SilverBow Resources, Inc. SBOW

• SilverBow Resources reported weaker-than-expected second-quarter financial results. The company’s stock has a 52-week high of $49.91.
• RSI Value: 71.81
• SBOW Price Action: Shares of SilverBow Resources fell 0.2% to close at $40.94 on Friday.

TORM plc TRMD

• TORM reported better-than-expected second-quarter EPS results. The company has a 52-week high of $36.60.
• RSI Value: 73.26
• TRMD Price Action: Shares of TORM rose 0.2% to close at $26.94 on Friday.

CONSOL Energy Inc. CEIX

• CONSOL Energy reported a second-quarter earnings beat. The company’s 52-week high is $86.04.
• RSI Value: 71.51
• CEIX Price Action: Shares of CONSOL Energy rose 0.1% to close at $83.97 on Friday.

SFL Corporation Ltd. SFL

• SFL Corp reported second-quarter revenue of $164.56 million, which missed the consensus of $175.23 million. The company has a 52-week high of $11.49.
• RSI Value: 75.03
• SFL Price Action: Shares of SFL Corporation rose 0.6% to settle at $10.86 on Friday.

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