Top 5 Consumer Stocks That Could Sink Your Portfolio In Q3

As of Sept. 3, 2024, five stocks in the consumer discretionary 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.

VOXX International Corp VOXX

• On Aug. 27, the company announced that its board of directors is exploring methods to maximize shareholder value. The board is evaluating options, including a sale of the company, a sale of segments, operational improvements or other strategic transactions.. The company's stock gained around 92% over the past five days and has a 52-week high of $11.70.
• RSI Value: 81.77                              
• VOXX Price Action: Shares of VOXX International gained 12.7% to close at $5.49 on Friday.

Aramark ARMK

• On Aug. 6, Aramark posted better-than-expected quarterly earnings results. The company's stock gained around 11% over the past month and has a 52-week high of $36.68.
• RSI Value: 71.72
• ARMK Price Action: Shares of Aramark rose 1.5% to close at $36.63 on Friday.

Sharkninja Inc SN

• The company's stock gained around 31% over the past month and has a 52-week high of $95.90.
• RSI Value: 74.23
• SN Price Action: Shares of Sharkninja gained 4.3% to close at $95.82 on Friday.

General Motors Co GM

• On Aug. 29, General Motors said that it is moving its BrightDrop electric vans under its Chevrolet brand.. The company's stock jumped around 25% over the past month and has a 52-week high is $50.50.
• RSI Value: 70.42
• GM Price Action: Shares of General Motors rose 0.6% to close at $49.78 on Friday.

Best Buy Co Inc  BBY

• On Aug. 29, Best Buy reported better-than-expected second-quarter financial results raised its FY25 earnings guidance. The company's stock jumped around 25% over the past month and has a 52-week high of $103.71.
• RSI Value: 75.83
• BBY Price Action: Shares of Best Buy climbed 0.2% to close at $100.40 on Friday.

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