Top 5 Tech Stocks That May Crash This Month
Portfolio Pulse from Lisa Levin
The article lists five tech stocks that are considered overbought and may crash this month. These include PowerSchool Holdings, Inc. (PWSC), Badger Meter, Inc. (BMI), The Hackett Group, Inc. (HCKT), Kimball Electronics, Inc. (KE), and Nano Dimension Ltd. (NNDM). The overbought status is determined by the Relative Strength Index (RSI), which is above 70 for all these stocks.
July 26, 2023 | 1:02 pm
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NEGATIVE IMPACT
Badger Meter, Inc. reported better-than-expected Q2 results and issued 2H guidance. Its RSI value is 70.98, indicating it is overbought.
Despite strong Q2 results, the high RSI indicates the stock is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
The Hackett Group, Inc. posted upbeat Q1 earnings. Its RSI value is 70.16, indicating it is overbought.
Despite positive Q1 earnings, the high RSI indicates the stock is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Kimball Electronics, Inc. posted downbeat Q3 earnings. Its RSI value is 70.70, indicating it is overbought.
The downbeat Q3 earnings and high RSI indicate the stock is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nano Dimension Ltd. recently boosted its proposed price to $25.00 per share in its special tender offer for Stratasys shares. Its RSI value is 72.91, indicating it is overbought.
The boosted proposed price for Stratasys shares and high RSI indicate the stock is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
PowerSchool Holdings, Inc. recently acquired SchoolMessenger for $300 million. Its RSI value is 71.82, indicating it is overbought.
The acquisition could lead to short-term financial strain, and the high RSI indicates the stock is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100