Top 4 Defensive Stocks That Could Sink Your Portfolio In Q3
Portfolio Pulse from Lisa Levin
Four consumer staples stocks, Casey's General Stores (CASY), Church & Dwight (CHD), Oil-Dri Corporation of America (ODC), and US Foods Holding Corp. (USFD), are considered overbought with RSI values above 70, indicating they may be overvalued. CASY reported downbeat quarterly sales but closed the fiscal year with record growth. CHD is set to discuss Q2 earnings on July 28, 2023. ODC announced price increases on its products. Morgan Stanley upgraded USFD from Equal-Weight to Overweight and raised the price target from $46 to $54.
July 05, 2023 | 11:42 am
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NEGATIVE IMPACT
Casey's General Stores reported downbeat quarterly sales but closed the fiscal year with record growth. Its RSI value is 71.37, indicating it may be overvalued.
Despite reporting record growth, the company's downbeat quarterly sales and high RSI value suggest it may be overvalued, potentially leading to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Church & Dwight is set to discuss its Q2 earnings on July 28, 2023. Its RSI value is 70.27, indicating it may be overvalued.
The upcoming earnings discussion could impact the stock price. However, the high RSI value suggests it may be overvalued, potentially leading to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Oil-Dri Corporation of America announced price increases on its products. Its RSI value is 75.61, indicating it may be overvalued.
While the price increase on its products could boost revenues, the high RSI value suggests it may be overvalued, potentially leading to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Morgan Stanley upgraded US Foods Holding Corp. from Equal-Weight to Overweight and raised the price target from $46 to $54. Its RSI value is 70.36, indicating it may be overvalued.
Despite the upgrade and higher price target from Morgan Stanley, the high RSI value suggests it may be overvalued, potentially leading to a decrease in stock price.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100