Top 2 Consumer Stocks That May Implode In April

As of April 22, 2024, two 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.

Carrols Restaurant Group, Inc (NASDAQ:TAST)

• On April 19, Carrols Restaurant 13D filing showed Gabelli Funds, LLC reported a 3.27% stake in the company as of April 15, 2024. The company's stock gained around 69% over the past six months and has a 52-week high of $9.54.
• RSI Value: 75.96                              
• TAST Price Action: Shares of Carrols Restaurant rose 0.2% to close at $9.52 on Friday.

Coupang, Inc. (NYSE:CPNG)

• Coupang will raise its membership fees by 58% beginning on Saturday for new customers, according to a report from the Korean Times on April 12. The company’s membership service boasts approximately 14 million subscribers and benefits include next-day shipping, free returns, video streaming and Coupang Eats food delivery service. The company's stock gained around 25% over the past month and has a 52-week high of $22.89.
• RSI Value: 75.11
• CPNG Price Action: Shares of Coupang fell 1.3% to close at $22.01 on Friday.

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