Top 5 Consumer Stocks That Could Sink Your Portfolio In Q3
Portfolio Pulse from Lisa Levin
The article lists five consumer stocks that are considered overbought and could potentially negatively impact portfolios in Q3. These include Kohl's Corporation (KSS), Ethan Allen Interiors Inc. (ETD), M.D.C. Holdings, Inc. (MDC), Bassett Furniture Industries, Incorporated (BSET), and Haverty Furniture Companies, Inc. (HVT). All these companies have reported their recent financial results and their stocks have Relative Strength Index (RSI) values above 70, indicating they are overbought.
August 01, 2023 | 1:10 pm
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NEGATIVE IMPACT
Bassett Furniture posted downbeat quarterly sales. Its stock is considered overbought with an RSI of 75.93.
Despite downbeat quarterly sales, Bassett Furniture's stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ethan Allen Interiors posted better-than-expected Q3 earnings. Its stock is considered overbought with an RSI of 73.25.
Despite positive Q3 earnings, Ethan Allen Interiors' stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Haverty Furniture posted downbeat quarterly results. Its stock is considered overbought with an RSI of 84.99.
Despite downbeat quarterly results, Haverty Furniture's stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Kohl's Corporation reported better-than-expected Q1 results and reaffirmed FY23 outlook. Its stock is considered overbought with an RSI of 75.24.
Despite positive Q1 results, Kohl's stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
M.D.C. Holdings posted upbeat Q2 results. Its stock is considered overbought with an RSI of 70.55.
Despite upbeat Q2 results, M.D.C. Holdings' stock is overbought, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100