Top 4 Utilities Stocks That May Keep You Up At Night This Quarter

As of Nov. 15, 2024, four stocks in the utilities 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.

Pure Cycle Corporation PCYO

• On Nov. 13, Pure Cycle reported a year-over-year increase in fourth-quarter financial results. “Due to the continued success of our Sky Ranch Master Planned community, we now have three phases of lot development under construction accelerating the timing of delivering our lots to home builder customers as well as lots for our single-family rental segment. As we complete final landscaping in Phase 2A, lot production accelerated deliveries in the remaining half of our fiscal year with completion of approximately 211 lots in Phase 2B and substantial progress on our overlapping production of 228 lots in Phase 2C,” commented Mark Harding, CEO of Pure Cycle. The company's stock gained around 23% over the past month and has a 52-week high of $13.40.
• RSI Value: 81.73                              
• PCYO Price Action: Shares of Pure Cycle gained 11.6% to close at $13.04 on Thursday.

Pampa Energia S.A. PAM

• On Nov. 6, the company reported quarterly earnings of $2.70 per share which beat the analyst consensus estimate of $1.90 per share. The company reported quarterly sales of $540.000 million which missed the analyst consensus estimate of $581.284 million. The company's stock gained around 16% over the past month and has a 52-week high of $76.31.
• RSI Value: 82.26
• PAM Price Action: Shares of Pampa Energia gained 2.5% to close at $75.84 on Thursday.

Xcel Energy Inc XEL

• On Nov. 4, Xcel Energy announced a registered underwritten offering of 18,320,610 shares of its common stock at a public offering price of $65.50 per share. The company's stock gained around 9% over the past month and has a 52-week high of $69.53.
• RSI Value: 71.29
• XEL Price Action: Shares of Xcel Energy gained 0.4% to close at $68.91 on Thursday.

IDACORP Inc IDA

• On Oct. 31, Idacorp reported quarterly earnings of $2.12 per share which missed the analyst consensus estimate of $2.18 per share. The company's stock jumped around 13% over the past month and has a 52-week high is $119.65.
• RSI Value: 73.18
• IDA Price Action: Shares of IDACORP fell 0.5% to close at $116.74 on Thursday.

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