Top 3 Real Estate Stocks That May Crash In Q3
Portfolio Pulse from Lisa Levin
The article identifies three overbought real estate stocks that may crash in Q3: Forestar Group Inc. (FOR), The St. Joe Company (JOE), and Tanger Factory Outlet Centers, Inc. (SKT). All three companies have recently posted positive results, but their Relative Strength Index (RSI) values are above 70, indicating they are overbought and may be overvalued.
August 11, 2023 | 11:06 am
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NEGATIVE IMPACT
Forestar Group Inc. is overbought with an RSI of 77.37, despite posting upbeat Q3 results.
Forestar Group's high RSI indicates it is overbought and may be overvalued, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
The St. Joe Company is overbought with an RSI of 71.77, despite reporting a YoY increase in Q2 EPS and sales.
The St. Joe Company's high RSI indicates it is overbought and may be overvalued, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tanger Factory Outlet Centers, Inc. is overbought with an RSI of 72.90, despite posting better-than-expected quarterly sales.
Tanger Factory Outlet Centers' high RSI indicates it is overbought and may be overvalued, which could lead to a price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100