Top 5 Tech Stocks That That Could Sink Your Portfolio In May
Portfolio Pulse from Lisa Levin
The article lists the top 5 overbought tech stocks in May, including NVIDIA, Super Micro Computer, Nutanix, C3.ai, and Advanced Micro Devices. These stocks have high RSI values, indicating they may be overvalued and present an opportunity to go short.
May 25, 2023 | 12:43 pm
News sentiment analysis
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NEGATIVE IMPACT
C3.ai is overbought with an RSI value of 71.00, despite reporting strong preliminary financial results.
C3.ai's high RSI value suggests it may be overvalued, which could lead to a short-term price decline. However, the company's strong preliminary financial results may provide some support.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Advanced Micro Devices is considered overbought with an RSI value of 78.20, despite Third Point disclosing a stake in the company.
Advanced Micro Devices' high RSI value indicates it may be overvalued, which could lead to a short-term price decline. However, Third Point's stake in the company may provide some support.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nutanix is considered overbought with an RSI value of 72.09, despite posting upbeat Q3 results.
Nutanix's high RSI value indicates it may be overvalued, which could lead to a short-term price decline. However, the company's upbeat Q3 results may provide some support.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA is considered overbought with an RSI value of 82.43, despite reporting better-than-expected Q1 results and strong guidance.
NVIDIA's high RSI value indicates it may be overvalued, which could lead to a short-term price decline. However, the company's strong Q1 results and guidance may provide some support.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Super Micro Computer is overbought with an RSI value of 84.43, despite issuing strong Q4 and FY23 guidance.
Super Micro Computer's high RSI value suggests it may be overvalued, which could lead to a short-term price decline. However, the company's strong guidance may provide some support.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100