Top 4 Risk Off Stocks That May Crash This Month
Portfolio Pulse from Lisa Levin
The article lists four overbought stocks in the consumer staples sector that may crash this month. These include Adecoagro S.A. (AGRO), Keurig Dr Pepper Inc. (KDP), Constellation Brands, Inc. (STZ), and Calavo Growers, Inc. (CVGW). The stocks are considered overbought as their Relative Strength Index (RSI) values are above 70.
August 04, 2023 | 11:07 am
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NEGATIVE IMPACT
Adecoagro's stock is overbought with an RSI of 71.38. Morgan Stanley recently upgraded the stock and raised its price target.
The stock is overbought and may face a price correction. The recent upgrade by Morgan Stanley might have contributed to the overbought condition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Calavo Growers' stock is overbought with an RSI of 70.95. The company reported worse-than-expected Q2 results.
The stock is overbought and may face a price correction. The worse-than-expected Q2 results might have contributed to the overbought condition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Keurig Dr Pepper's stock is overbought with an RSI of 72.70. The company reported Q2 FY23 sales growth of 6.6% YoY.
The stock is overbought and may face a price correction. The recent sales growth might have contributed to the overbought condition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Constellation Brands' stock is overbought with an RSI of 73.22. The company entered a cooperation and information sharing agreement with Elliott Management.
The stock is overbought and may face a price correction. The recent partnership might have contributed to the overbought condition.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100