Top 5 Consumer Stocks That Could Lead To Your Biggest Gains In June
Portfolio Pulse from Lisa Levin
The most oversold stocks in the consumer discretionary sector present an opportunity to buy into undervalued companies. The list includes Ulta Beauty (ULTA), Hibbett (HIBB), The Children's Place (PLCE), Foot Locker (FL), and Advance Auto Parts (AAP). All have an RSI near or below 30, indicating they may be oversold and due for a short-term rebound.
June 06, 2023 | 12:35 pm
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POSITIVE IMPACT
Advance Auto Parts reported worse-than-expected Q1 results and cut FY23 guidance. The stock has an RSI of 14.49 and closed at $65.59 on Monday.
Advance Auto Parts' worse-than-expected Q1 results and lowered FY23 guidance are negative signs for the company. However, the RSI of 14.49 indicates that the stock may be oversold and due for a short-term rebound. The stock's recent price action supports this analysis.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Foot Locker reported worse-than-expected Q1 revenue and has an RSI of 26.76. Shares fell 4.9% to close at $24.61 on Monday.
Foot Locker's worse-than-expected Q1 revenue is a negative sign for the company. However, the RSI of 26.76 indicates that the stock may be oversold and due for a short-term rebound. The stock's recent price action supports this analysis.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Hibbett reported 7.4% YoY sales growth in Q1 FY23 but missed consensus estimates. The stock has an RSI of 20.77 and closed at $36.21 on Monday.
Hibbett's sales growth is a positive sign, but missing consensus estimates may have contributed to the stock's oversold status. The RSI of 20.77 indicates that the stock may be due for a short-term rebound. The stock's recent price action supports this analysis.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Children's Place reported worse-than-expected Q1 results and issued below-estimate FY23 guidance. The stock has an RSI of 23.95 and closed at $15.51 on Monday.
Children's Place's worse-than-expected Q1 results and lowered FY23 guidance are negative signs for the company. However, the RSI of 23.95 indicates that the stock may be oversold and due for a short-term rebound. The stock's recent price action supports this analysis.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Ulta Beauty raised its FY23 revenue guidance and has an RSI of 29.00. Shares fell 0.3% to close at $421.01 on Monday.
Ulta Beauty raised its FY23 revenue guidance, which is a positive sign for the company. The RSI of 29.00 indicates that the stock may be oversold and due for a short-term rebound. The stock's recent price action supports this analysis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100