Top 5 Materials Stocks That Could Sink Your Portfolio For July
Portfolio Pulse from Lisa Levin
The article lists five materials stocks that are considered overbought and could potentially negatively impact portfolios. The stocks are CRH plc, Ingevity Corporation, Packaging Corporation of America, Sealed Air Corporation, and Reliance Steel & Aluminum Co. The overbought status is determined by the Relative Strength Index (RSI), which is above 70 for all these stocks.
July 27, 2023 | 12:26 pm
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NEGATIVE IMPACT
CRH plc has acquired Hydro International, which aligns with their water market strategy. The stock's RSI value is 81.79, indicating it is overbought.
The acquisition of Hydro International could potentially boost CRH's business. However, the high RSI value indicates the stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ingevity Corporation is expected to release its Q2 2023 earnings on Aug. 2, 2023. The stock's RSI value is 73.59, indicating it is overbought.
The upcoming earnings release could influence the stock's price. However, the high RSI value indicates the stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Packaging Corporation of America reported mixed Q2 results. The stock's RSI value is 80.72, indicating it is overbought.
The mixed Q2 results could influence the stock's price. However, the high RSI value indicates the stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Reliance Steel & Aluminum is expected to report Q2 2023 financial results on July 27, 2023. The stock's RSI value is 74.39, indicating it is overbought.
The upcoming earnings release could influence the stock's price. However, the high RSI value indicates the stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Sealed Air Corporation is scheduled to release its Q2 2023 results on Aug. 8, 2023. The stock's RSI value is 72.87, indicating it is overbought.
The upcoming earnings release could influence the stock's price. However, the high RSI value indicates the stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100