Top 5 Financial Stocks That May Implode This Quarter
Portfolio Pulse from Lisa Levin
The article lists five financial stocks that are considered overbought and may underperform in the short term. These include First Savings Financial Group, Inc. (FSFG), Provident Bancorp, Inc. (PVBC), OFG Bancorp (OFG), Medallion Financial Corp. (MFIN), and Live Oak Bancshares, Inc. (LOB). All these stocks have a Relative Strength Index (RSI) value above 70, indicating they are overbought.
August 04, 2023 | 2:53 pm
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NEGATIVE IMPACT
First Savings Financial Group's stock is overbought with an RSI of 70.40. The company's shares fell 4.1% to close at $17.27 on Thursday.
The high RSI value indicates that the stock is overbought and may be due for a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Live Oak Bancshares, Inc.'s stock is overbought with an RSI of 78.61. The company's shares fell 0.9% to settle at $37.09 on Thursday.
The high RSI value indicates that the stock is overbought and may be due for a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Medallion Financial Corp.'s stock is overbought with an RSI of 77.04. The company's shares fell 1.1% to close at $9.82 on Thursday.
The high RSI value indicates that the stock is overbought and may be due for a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
OFG Bancorp's stock is overbought with an RSI of 72.46. The company's shares fell 1.1% to close at $33.28 on Thursday.
The high RSI value indicates that the stock is overbought and may be due for a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Provident Bancorp's stock is overbought with an RSI of 70.87. The company's shares fell 1.9% to close at $9.77 on Thursday.
The high RSI value indicates that the stock is overbought and may be due for a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100