Top 5 Tech And Telecom Stocks That May Fall Off A Cliff
Portfolio Pulse from Lisa Levin
The article lists five overbought stocks in the communication services sector that may be due for a price correction. These include Roku, Inc. (ROKU), Cumulus Media Inc. (CMLS), Madison Square Garden Sports Corp. (MSGS), Cardlytics, Inc. (CDLX), and Spok Holdings, Inc. (SPOK). All these companies have recently reported positive financial results or corporate news, and their stocks have seen significant price increases, pushing their Relative Strength Index (RSI) values above 70, which is typically considered overbought.
July 31, 2023 | 12:15 pm
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NEGATIVE IMPACT
Cardlytics' stock has increased after the appointment of a new CFO, pushing its RSI to 70.58, indicating it may be overbought.
Cardlytics' new CFO appointment has driven its stock price up, but its high RSI value suggests it may be overvalued and due for a correction.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Cumulus Media's stock has increased after better-than-expected Q2 financial results, pushing its RSI to 78.77, indicating it may be overbought.
Cumulus Media's strong Q2 results have driven its stock price up, but its high RSI value suggests it may be overvalued and due for a correction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Madison Square Garden Sports' stock has risen after it was announced it will replace Aerojet Rocketdyne in the S&P SmallCap 600, pushing its RSI to 77.43, indicating it may be overbought.
Madison Square Garden Sports' inclusion in the S&P SmallCap 600 has driven its stock price up, but its high RSI value suggests it may be overvalued and due for a correction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Roku's stock has risen significantly after better-than-expected Q2 results and strong Q3 guidance, pushing its RSI to 72.91, which is considered overbought.
Roku's strong financial results and guidance have driven its stock price up, but its high RSI value suggests it may be overvalued and due for a correction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Spok Holdings' stock has risen after reporting upbeat quarterly sales, pushing its RSI to 75.52, indicating it may be overbought.
Spok Holdings' strong sales have driven its stock price up, but its high RSI value suggests it may be overvalued and due for a correction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100