Top 5 Industrials Stocks You May Want To Dump In July

The most overbought stocks in the industrials sector presents an opportunity to go short on these overvalued companies.

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.

Here’s the latest list of major overbought players in this sector.

Quad/Graphics, Inc. (NYSE:QUAD)

• Quad/Graphics posted an increase in quarterly earnings. Joel Quadracci, Chairman, President & CEO of Quad, said, "We continue to experience positive momentum and top-line growth, achieving a 3% increase in Net Sales in the first quarter of 2023 due to higher sales in our print product and Agency Solutions offerings.” The company’s stock has a 52-week high of $5.39. .
• RSI Value: 71.05
• QUAD Price Action: Shares of Quad/Graphics fell 1.4% to close at $4.28 on Monday.

Enovix Corporation (NASDAQ:ENVX)

• Enovix announced it received a purchase order to produce battery cells for the U.S. Army. "Our cells provide a significant energy density advantage compared to other cells on the market today, and I'm proud that our team has successfully designed and produced BrakeFlow-enabled custom cells for Inventus Power and the U.S. Army," said Raj Talluri, president and CEO of Enovix. The company’s stock has a 52-week high of $26.30.
• RSI Value: 73.64
• ENVX Price Action: Shares of Enovix gained 5.7% to close at $19.80 on Monday.

CIRCOR International, Inc. (NYSE:CIR)

• Private equity firm Arcline Investment Management LP submitted a binding proposal to acquire 100% of the shares of CIRCOR International for $57 per share. The company has a 52-week high of $56.48.
• RSI Value: 89.32
• CIR Price Action: Shares of CIRCOR International fell 0.2% to close at $56.00 on Monday.

CACI International Inc (NYSE:CACI)

• CACI International recently secured a $5.7 billion blanket purchase agreement for Enterprise Information Technology as a Service (EITaaS) Wave 1 by the Air Force. "Our team is ready to work with the Air Force and Space Force to move Airmen and Guardians to more efficient and cost-effective as-a-service technology provisioning," said President of Business and Information Technology Solutions, DeEtte Gray. The company’s 52-week high is $346.58.
• RSI Value: 73.50
• CACI Price Action: Shares of CACI International fell 0.2% to close at $341.96 on Monday.

Matthews International Corporation (NASDAQ:MATW)

• Matthews International posted better-than-expected second-quarter results. Joseph C. Bartolacci, President and Chief Executive Officer, stated, “I am pleased to report very good operating results on a consolidated basis for the fiscal 2023 second quarter. Our consolidated sales increased 7.8% from the same quarter a year ago, resulting in higher adjusted EBITDA.” The company has a 52-week high of $47.20.
• RSI Value: 75.74
• MATW Price Action: Shares of Matthews International fell 0.1% to settle at $46.22 on Monday.

 

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