Top 5 Tech And Telecom Stocks That May Implode This Quarter
Portfolio Pulse from Lisa Levin
The article lists five overbought stocks in the communication services sector that may underperform in the short term. The companies mentioned are Cardlytics, Inc. (CDLX), FingerMotion, Inc. (FNGR), Snap Inc. (SNAP), Angi Inc. (ANGI), and Meta Platforms, Inc. (META). All these stocks have an RSI value above 70, indicating they are overbought.
July 17, 2023 | 12:32 pm
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NEGATIVE IMPACT
Angi is considered overbought with an RSI value of 70.63. The stock fell 2.6% to close at $3.76 on Friday.
The high RSI value indicates that the stock is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Cardlytics is considered overbought with an RSI value of 73.01. The stock fell 6.6% to close at $9.12 on Friday.
The high RSI value indicates that the stock is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
FingerMotion is considered overbought with an RSI value of 70.05. The stock fell 5.3% to close at $5.70 on Friday.
The high RSI value indicates that the stock is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Meta Platforms is considered overbought with an RSI value of 71.46. The stock fell 1.5% to settle at $308.87 on Friday.
The high RSI value indicates that the stock is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Snap is considered overbought with an RSI value of 73.62. The stock fell 2.7% to close at $13.15 on Friday.
The high RSI value indicates that the stock is overbought and may face a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100