Top 5 Tech Stocks That You May Want To Dump In Q2
Portfolio Pulse from Lisa Levin
The article lists the top 5 overbought tech stocks in Q2, including Yext, Semtech Corporation, Novonix Limited, Cambium Networks Corporation, and Chindata Group Holdings Limited. These stocks have high RSI values, indicating they may be overvalued and present an opportunity to go short.
June 08, 2023 | 1:02 pm
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NEGATIVE IMPACT
Chindata Group Holdings Limited received a preliminary non-binding going private proposal for $8 per share, with its stock reaching a 52-week high of $9.21. Its RSI value is 74.82.
Chindata Group's high RSI value of 74.82 indicates that the stock is overbought and may be overvalued. This, combined with its recent strong performance, suggests that the stock price may decline in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cambium Networks Corporation reported better-than-expected Q1 results, with its stock reaching a 52-week high of $20.53. Its RSI value is 79.24.
Cambium Networks' high RSI value of 79.24 indicates that the stock is overbought and may be overvalued. This, combined with its recent strong performance, suggests that the stock price may decline in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Novonix Limited announced a Sales and Service Agreement with NOVONIX Battery Technology Solutions, with its stock reaching a 52-week high of $9.90. Its RSI value is 74.16.
Novonix's high RSI value of 74.16 indicates that the stock is overbought and may be overvalued. This, combined with its recent strong performance, suggests that the stock price may decline in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Semtech Corporation reported better-than-expected Q1 results, with its stock reaching a 52-week high of $65.51. Its RSI value is 77.35.
Semtech's high RSI value of 77.35 indicates that the stock is overbought and may be overvalued. This, combined with its recent strong performance, suggests that the stock price may decline in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Yext reported better-than-expected Q1 results and strong FY24 forecast, with its stock reaching a 52-week high of $14.35. Its RSI value is 91.32.
Yext's high RSI value of 91.32 indicates that the stock is overbought and may be overvalued. This, combined with its recent strong performance, suggests that the stock price may decline in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100