Top 5 Energy Stocks That May Crash In July
Portfolio Pulse from Lisa Levin
The article lists five energy stocks that are considered overbought and may crash in July. These include Bristow Group Inc. (VTOL), Southwestern Energy Company (SWN), The Williams Companies, Inc. (WMB), Newpark Resources, Inc. (NR), and Equitrans Midstream Corporation (ETRN). The Relative Strength Index (RSI) of these stocks is above 70, indicating they are overbought.
July 06, 2023 | 12:50 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Morgan Stanley reiterated Equitrans Midstream with an Overweight and maintained $14 price target. Its stock fell 0.4% to settle at $9.54 on Wednesday.
Despite the Overweight rating from Morgan Stanley, the company's high RSI value and recent fall in stock price suggest it is overbought and may crash in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Newpark Resources reported an increase in quarterly EPS. Its stock fell 0.6% to close at $5.19 on Wednesday.
Despite an increase in EPS, the company's high RSI value and recent fall in stock price suggest it is overbought and may crash in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Stifel initiated coverage on Southwestern Energy with a Buy rating and a price target of $7.5. Its stock fell 1.2% to close at $5.96 on Wednesday.
Despite the Buy rating from Stifel, the company's high RSI value and recent fall in stock price suggest it is overbought and may crash in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bristow Group Inc. expects an operating revenues range of around $1.295 billion - $1.465 billion for FY24. Its stock fell 1.8% to close at $29.03 on Wednesday.
The company's high RSI value and recent fall in stock price indicate it is overbought and may crash in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Williams Companies posted better-than-expected first-quarter earnings. Its stock fell 0.8% to close at $32.46 on Wednesday.
Despite better-than-expected earnings, the company's high RSI value and recent fall in stock price suggest it is overbought and may crash in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100