Top 3 Defensive Stocks That May Keep You Up At Night This Month

As of Oct. 22, 2024, three stocks in the consumer staples 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.

Bellring Brands Inc BRBR

• On Oct. 16, Truist Securities analyst Bill Chappell maintained BellRing Brands with a Hold and raised the price target from $50 to $60.. The company's stock gained around 8% over the past month and has a 52-week high of $67.12.
• RSI Value: 78.31                              
• BRBR Price Action: Shares of Bellring Brands gained 0.4% to close at $66.01 on Monday.

Kellanova K

• On Oct. 2, Argus Research analyst Taylor Conrad downgraded Kellanova from Buy to Hold. The company's stock gained around 40% over the past six months and has a 52-week high of $81.26.
• RSI Value: 79.11
• K Price Action: Shares of Kellanova rose 0.2% to close at $81.17 on Monday.

Lamb Weston Holdings Inc LW

• On Oct. 21, B of A Securities analyst Peter Galbo maintained Lamb Weston with a Neutral and raised the price target from $68 to $80. The company's stock gained around 19% over the past month and has a 52-week high of $111.88.
• RSI Value: 70.39
• LW Price Action: Shares of Lamb Weston fell 1.2% to close at $77.31 on Monday.

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