Top 3 Industrial Stocks That May Collapse This Quarter

As of March 1, 2024, three stocks in the industrials 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.

American Woodmark Corporation AMWD

• On Feb. 29, American Woodmark posted better-than-expected quarterly earnings. "As our teams have demonstrated throughout the fiscal year, we delivered strong financial performance in the third quarter of fiscal year 2024 despite the slowing demand environment," said Scott Culbreth, President and CEO. The company’s stock gained around 6% over the past five days and has a 52-week high of $103.45 .
• RSI Value: 73.81
• AMWD Price Action: Shares of American Woodmark fell 0.8% to close at $100.24 on Thursday.

Tutor Perini Corporation TPC

• On Feb. 28, Tutor Perini reported results for the fourth quarter and year ended Dec. 31, 2023, posting revenue of $3.9 billion for 2023, up slightly from 2022. "We delivered a second consecutive year of record operating cash flow and grew our backlog substantially in 2023," remarked Ronald Tutor, Chairman and Chief Executive Officer. The company’s stock gained around 29% over the past five days and has a 52-week high of $12.39.
• RSI Value: 78.65
• TPC Price Action: Shares of Tutor Perini gained 22.6% to close at $11.33 on Thursday.

Sterling Infrastructure, Inc. STRL

• On Feb. 26, Sterling Infrastructure posted upbeat quarterly earnings. "2023 was another record year for Sterling as we grew our adjusted net income by 43% to deliver adjusted diluted EPS of $4.47, which was above the high end of our previously guided range," stated Joe Cutillo, Sterling's Chief Executive Officer. The company’s stock gained around 25% over the past five days has a 52-week high of $113.08.
• RSI Value: 82.86
• STRL Price Action: Shares of Sterling Infrastructure gained 0.5% to close at $106.64 on Thursday.

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