The most overbought stocks in the materials sector offer an opportunity to short on these overvalued companies.

The RSI is a momentum indicator that compares a stock’s strength on rising days to its strength on falling days. Compared to a stock’s price action, it can give traders a better sense of how a stock might perform in the short term. An asset is typically considered overbought when the The RSI is above 70.

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

Brown & Brown, Inc. BROTHER

• Brown & Brown reported better-than-expected Q1 adjusted EPS and sales results. J. Powell Brown, the Company’s President and Chief Executive Officer, said, “The first quarter was an excellent start to the year and we delivered good profitable growth. We continue to leverage the collective capabilities of Brown & Brown to deliver innovative solutions to our clients.” The company’s stock has a 52-week high of $68.43 .
• RSI value: 77.72
• BRO Price Promotion: Brown & Brown shares rose 0.6% to close at $64.39 on Friday.

Gold Fields Limited GFI

• Gold Fields reported an increase in FY-adjusted EPS. The companys The stock has a 52-week high from $15.88.
• RSI value: 71.02
• GFI Price Action: Gold Fields shares rose 0.5% to close at $15.56 on Friday.

New Market Corporation NEW

• NewMarket reported year-over-year increases in earnings per share and revenue in the first quarter. The company has one 52 week high from $400.91.
• RSI value: 78.23
• NEW price promotion: Shares of NewMarket rose 1% to close at $399.60 on Friday.

Glattfelter Corporation GLT

• Glatfelter appointed Boris Illetschko as Senior Vice President, Chief Operating Officer. The company’s 52-week high is $11.19.
• RSI value: 77.18
• GLT Price Promotion: Glatfelter shares rose 2.5% to close at $4.52 on Friday.

Snow Lake Resources Ltd. LIT

• Snow Lake recently again met NASDAQ’s requirements for continuous listing. The company has a 52-week high from $4.89.
• RSI value: 71.55
• LITM…