Top 5 Industrials Stocks You May Want To Dump In Q3
Portfolio Pulse from Lisa Levin
The article lists five overbought stocks in the industrials sector that investors may want to consider selling in Q3. These include ACCO Brands Corporation (ACCO), MillerKnoll, Inc. (MLKN), The Greenbrier Companies, Inc. (GBX), Global Industrial Company (GIC), and The Gorman-Rupp Company (GRC). All these companies have reported better-than-expected financial results, but their Relative Strength Index (RSI) values are above 70, indicating they are overbought.
August 08, 2023 | 11:58 am
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NEGATIVE IMPACT
ACCO Brands Corporation reported better-than-expected Q1 results but its stock is considered overbought with an RSI of 70.74.
ACCO Brands' strong Q1 results have likely contributed to its overbought status, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The Greenbrier Companies, Inc. reported better-than-expected Q3 sales growth but its stock is considered overbought with an RSI of 71.39.
Greenbrier's strong Q3 sales growth has likely contributed to its overbought status, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Global Industrial Company reported upbeat Q2 results but its stock is considered overbought with an RSI of 70.20.
Global Industrial's upbeat Q2 results have likely contributed to its overbought status, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
The Gorman-Rupp Company reported better-than-expected Q2 results but its stock is considered overbought with an RSI of 76.65.
Gorman-Rupp's strong Q2 results have likely contributed to its overbought status, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
MillerKnoll, Inc. reported better-than-expected Q4 results but its stock is considered overbought with an RSI of 70.10.
MillerKnoll's strong Q4 results have likely contributed to its overbought status, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100