As of Dec. 16, 2024, three stocks in the real estate 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.
CBL & Associates Properties, Inc. CBL
- On Nov. 11, CBL & Associates posted an increase in quarterly EPS. “The overall environment for the shopping center industry remains positive,” said CBL’s chief executive officer, Stephen D. Lebovitz. The company’s shares gained around 14% over the past month and has a 52-week high of $32.20.
- RSI Value: 70.19
- CBL Price Action: Shares of CBL gained 0.3% to close at $31.44 on Friday.
Macerich Co MAC
- On Dec. 11, Piper Sandler analyst Alexander Goldfarb maintained Macerich with an Underweight and raised the price target from $14 to $17. The company’s stock gained around 11% over the past month and has a 52-week high of $22.27.
- RSI Value: 70.59
- MAC Price Action: Shares of Macerich closed at $21.50 on Friday.
Sunstone Hotel Investors Inc SHO
- On Dec. 9, Wells Fargo analyst Dori Kesten maintained Sunstone Hotel Investors with an Equal-Weight and raised the price target from $11 to $13. The company’s stock gained around 21% over the past month and has a 52-week high of $12.35.
- RSI Value: 77.04
- SHO Price Action: Shares of Sunstone Hotel Investors closed at $12.21 on Friday.
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