Top 2 Energy Stocks You May Want To Dump In Q4

As of Oct. 8, 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.

RPC Inc RES

• RPC said it will release its financial results for the third quarter ended Sept. 30 on Thursday, Oct. 24, before the market opens. The company's stock gained around 12% over the past five days and has a 52-week high of $9.26.
• RSI Value: 70.47                              
• RES Price Action: Shares of RPC gained 2% to close at $7.14 on Monday.

Comstock Resources Inc CRK

• On Oct. 4, BMO Capital analyst Phillip Jungwirth maintained Comstock Resources with a Market Perform and raised the price target from $10 to $11. The company's stock gained around 30% over the past month and has a 52-week high of $13.39.
• RSI Value: 71.45
• CRK Price Action: Shares of Comstock rose 0.3% to close at $12.09 on Monday.

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