Top 2 Energy Stocks That May Keep You Up At Night In Q3

As of Aug 12, 2024, two stocks in the energy 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.

Payoneer Global Inc. PAYO

• On Aug. 7, Payoneer Global reported strong second-quarter financial results and raised its guidance. "Payoneer delivered another consecutive quarter of record revenue, accelerating volume and ICP growth, and significant profitability. We are steadily executing to capture a massive opportunity and our results are a validation that our strategy is working: we grew ICPs by 10%, increased ARPU by 27%, and continued to expand our SMB take rate while driving more leverage across the business," John Caplan, Chief Executive Officer said. The company's stock gained around 33% over the past five days and has a 52-week high of $6.84.
• RSI Value: 77.35                              
• PAYO Price Action: Shares of Payoneer Global gained 0.3% to close at $6.73 on Friday.

EZCORP Inc EZPW

• On July 31, EZCORP posted better-than-expected quarterly results. Lachie Given, Chief Executive Officer, stated, "Our team delivered another outstanding quarter for our shareholders, driven by strong customer demand and continued focus on operational execution at the store level. As a result, we achieved record Q3 revenues and our highest level of PLO in Company history." The company's stock gained around 13% over the past month and has a 52-week high of $11.66.
• RSI Value: 77.23
• EZPW Price Action: Shares of EZCORP gained 0.7% to close at $11.42 on Friday.

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