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NuScale nuclear power is among Top 5 Industrials Stocks That May Fall Off A Cliff In Q1

As of March 15, 2024, five 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………………………………………………………

NuScale Power Corporation (NYSE:SMR)

• On March 14, NuScale Power posted downbeat quarterly sales. “Over the course of 2023, we made significant progress towards commercializing our SMR technology, including continued activities to ensure readiness for manufacturing of our first NuScale Power Modules, building traction amongst data centers and further developing industrial applications for SMRs, such as process heat, hydrogen, and ammonia production,” said John Hopkins, President and Chief Executive Officer of NuScale Power. The company’s stock gained around 55% over the past five days and has a 52-week high of $9.27.
• RSI Value: 84.89
• SMR Price Action: Shares of NuScale Power gained 2.3% to close at $7.24 on Thursday…………………………………………………………………………..

General Electric Company (NYSE:GE)

• On March 7, General Electric said that GE Aerospace reaffirmed its guidance, presenting a longer-term financial outlook, including achieving operating profit worth $10 billion in 2028. The company’s stock jumped around 12% over the past month and has a 52-week high is $175.81.
• RSI Value: 72.30
• GE Price Action: Shares of General Electric fell 2% to close at $166.75 on Wednesday.

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March 16, 2024 - Posted by Christina Macpherson | business and costs