Top 3 Industrials Stocks That May Fall Off A Cliff In Q2

As of April 15, 2024, three stocks in the industrials 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.

FTAI Infrastructure Inc. (NASDAQ:FIP)

• On Feb. 29, FTAI Infrastructure posted weaker-than-expected quarterly results. The company’s stock gained around 17% over the past month and has a 52-week high of $6.97 .
• RSI Value: 78.76
• FIP Price Action: Shares of FTAI Infrastructure rose 8.1% to close at $6.95 on Friday.

NeoVolta Inc. (NASDAQ:NEOV)

• On Feb. 13, NeoVolta announced that it booked over $1 million in gross revenue for the fourth quarter. The company’s stock gained around 219% over the past month and has a 52-week high of $4.40.
• RSI Value: 74.52
• NEOV Price Action: Shares of NeoVolta gained 7.3% to close at $2.36 on Friday.

Argan, Inc. (NYSE:AGX)

• On April 11, Argan reported better-than-expected fourth-quarter financial results. David Watson, President and Chief Executive Officer of Argan, commented, "Our solid fourth quarter performance closed out a strong fiscal 2024 for our Company, highlighted by a 26% increase in consolidated revenues to $573.3 million and a 7% increase in annual EBITDA to $51.3 million. Fourth quarter 2024 project backlog grew to $757.0 million sequentially, as compared to backlog of $730.0 million at the close of the third quarter." The company’s stock gained around 19% over the past five days and has a 52-week high of $61.79.
• RSI Value: 75.88
• AGX Price Action: Shares of Argan gained 21.1% to close at $59.77 on Friday.

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