As of Feb. 10, 2025, two stocks in the materials 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.
Anglogold Ashanti PLC AU
- On Dec. 6, JP Morgan analyst Patrick Jones maintained Anglogold Ashanti with an Overweight and lowered the price target from $37 to $32. The company’s stock gained around 21% over the past month and has a 52-week high of $32.57.
- RSI Value: 78.3
- AU Price Action: Shares of Anglogold Ashanti closed at $31.43 on Friday.
Gold Fields Ltd GFI
- On Jan. 15, JP Morgan analyst Allan Cooke maintained Gold Fields with a Neutral and raised the price target from $17.1 to $18.8. The company’s stock gained around 27% over the past month and has a 52-week high of $19.08.
- RSI Value: 83
- GFI Price Action: Shares of Gold Fields closed at $18.68 on Friday.
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