Top 4 Utilities Stocks That Should Keep You Up At Night
Portfolio Pulse from Lisa Levin
The utilities sector has four overbought stocks with high RSI values: Companhia Energética de Minas Gerais (CIG), Centrais Elétricas Brasileiras (EBR), Constellation Energy Corporation (CEG), and Companhia Paranaense de Energia (ELP). These overvalued companies present an opportunity to go short.
June 13, 2023 | 11:38 am
News sentiment analysis
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NEGATIVE IMPACT
Constellation Energy Corporation (CEG) is overbought with an RSI value of 81.81. Wells Fargo maintained an Overweight rating and raised the price target from $115 to $120. The stock closed at $93.75 on Monday.
CEG's high RSI value indicates that the stock is overbought and may be overvalued. Despite Wells Fargo's Overweight rating, this presents a potential short opportunity as the stock price may correct in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Companhia Energética de Minas Gerais (CIG) is overbought with an RSI value of 70.11. The stock gained 4% over the past month and closed at $2.59 on Monday.
CIG's high RSI value indicates that the stock is overbought and may be overvalued. This presents a potential short opportunity as the stock price may correct in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Centrais Elétricas Brasileiras (EBR) is overbought with an RSI value of 75.11. The stock gained 10% over the past month and closed at $8.00 on Monday.
EBR's high RSI value indicates that the stock is overbought and may be overvalued. This presents a potential short opportunity as the stock price may correct in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Companhia Paranaense de Energia (ELP) is overbought with an RSI value of 71.00. The stock gained around 5% over the previous month and closed at $8.06 on Monday.
ELP's high RSI value indicates that the stock is overbought and may be overvalued. This presents a potential short opportunity as the stock price may correct in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100