Top 5 Utilities Stocks That May Fall Off A Cliff In November

As of Nov. 27, 2023, five 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.

Via Renewables, Inc. (NASDAQ:VIA)

• Via Renewables posted a profit for the third quarter. "Via was able to navigate one of the hottest ERCOT summers on record due to our proven risk management policies and portfolio diversification. We've been able to stay financially flexible while paying down debt and boosting liquidity since last quarter," said Keith Maxwell, Via Renewables' President and Chief Executive Officer. The company’s stock has a 52-week high of $37.35. .
• RSI Value: 73.25
• VIA Price Action: Shares of Via Renewables rose 1.2% to close at $9.25 on Friday.

Public Service Enterprise Group Incorporated (NYSE:PEG)

• Public Service Enterprise posted upbeat third-quarter earnings. "PSEG posted solid operating and financial results for the third quarter, and is on pace to achieve our guidance for full-year, 2023 non-GAAP Operating Earnings of $3.40 to $3.50 per share – which we are re-affirming today," said Ralph LaRossa, PSEG's chair, president and CEO. The company’s stock has a 52-week high of $65.46.
• RSI Value: 70.52
• PEG Price Action: Shares of Public Service Enterprise gained 0.7% to close at $65.09 on Friday.

DTE Energy Company (NYSE:DTE)

• DTE Energy reported worse-than-expected third-quarter EPS results and lowered FY23 operating EPS guidance. “This year we were faced with unprecedented headwinds which impacted our 2023 operating EPS guidance, but through the incredible work of our highly engaged team, DTE continues to be in a good position to offset the majority of the challenges and continue to deliver for our customers, our community and our investors,” Jerry Norcia, DTE Energy Chairman and CEO, said. The company has a 52-week high of $122.41.
• RSI Value: 71.48
• DTE Price Action: Shares of DTE Energy rose 0.7% to close at $105.37 on Friday.

Consolidated Water Co. Ltd. (NASDAQ:CWCO)

• Consolidated Water reported better-than-expected third-quarter results. “In Q3, we reported another solid quarter of results for both revenue and earnings,” stated Consolidated Water CEO, Rick McTaggart. “The nearly 100% increase in revenue to $49.9 million was due to strong growth across our services, retail water, and manufacturing business segments.” The company’s 52-week high is $36.70.
• RSI Value: 72.95
• CWCO Price Action: Shares of Consolidated Water gained 0.8% to close at $36.08 on Friday.

Korea Electric Power Corporation (NYSE:KEP)

• The company’s stock jumped around 12% over the past month. The company has a 52-week high of $8.85.
• RSI Value: 74.88
• KEP Price Action: Shares of Korea Electric Power gained 3.2% to close at $7.20 on Friday.

 

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