As of May 28, 2026, two 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.

Ormat Technologies, Inc. (NYSE:ORA)

  • On May 6, Ormat Technologies reported better-than-expected first-quarter financial results. “Ormat is off to a very strong start in 2026, delivering continued revenue growth across all segments alongside continued progress on our growth and funding strategies. Our 57.6% year-over-year growth in operating income, 29.7% growth in adjusted EBITDA and 91.2% increase in adjusted diluted EPS reflect not only the outstanding performance of our Energy Storage and Product segments, but also the strength and resilience of our diversified portfolio.” said Doron Blachar, Chief Executive Officer of Ormat.” The company's stock gained around 22% over the past month and has a 52-week high of $141.62.
  • RSI Value: 75.3                                
  • ORA Price Action: Shares of Ormat Technologies gained 0.4% to close at $139.69 on Wednesday.
  • Edge Stock Ratings: 87.89 Momentum score with Value at 46.08.

Renew Energy Global PLC (NASDAQ:RNW)

  • On May 18, ReNew Energy posted upbeat quarterly earnings. ReNew reported earnings per share of 2 cents, beating the consensus estimate of 1 cent. In addition, it reported revenue of $421.00 million, beating the consensus estimate of $298.74 million. The company's stock gained around 14% over the past five days and <a href=”https://www.benzinga.com/quote/RNW”><em> has a 52-week high </em></a> of $8.24.
  • RSI Value: 72.3
  • RNW Price Action: Shares of Renew Energy Global gained 2.8% to close at $6.17 on Wednesday.

Unlock the rest of the BZ Edge Rankings and see how top stocks stack up.

Photo via Shutterstock