Top 5 Tech And Telecom Stocks You May Want To Dump In August
Portfolio Pulse from Lisa Levin
The article lists five overbought stocks in the communication services sector that may be worth selling in August. These include United States Cellular Corporation (USM), Charter Communications, Inc. (CHTR), Shenandoah Telecommunications Company (SHEN), EchoStar Corporation (SATS), and Telephone and Data Systems, Inc. (TDS). The overbought status is determined by the Relative Strength Index (RSI), which is above 70 for all these stocks.
August 15, 2023 | 12:42 pm
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NEGATIVE IMPACT
Charter Communications' stock is overbought with an RSI of 76.98. The company reported lower than expected Q2 FY23 revenue.
The high RSI suggests the stock is overbought and may face a price correction. The missed revenue consensus could negatively impact investor sentiment.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
EchoStar's stock is overbought with an RSI of 74.54. The company reported upbeat quarterly sales.
Despite the positive sales report, the high RSI suggests the stock is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shenandoah Telecommunications' stock is overbought with an RSI of 73.19. The company posted a profit for Q2.
Despite the positive Q2 results, the high RSI suggests the stock is overbought and may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Telephone and Data Systems' stock is overbought with an RSI of 76.43. The company is exploring strategic alternatives for UScellular.
The high RSI indicates that the stock is overbought and may be due for a price correction. The exploration of strategic alternatives could introduce uncertainty, potentially negatively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
UScellular's stock is overbought with an RSI of 83.01. The company is exploring strategic alternatives.
The high RSI indicates that the stock is overbought and may be due for a price correction. The exploration of strategic alternatives could introduce uncertainty, potentially negatively impacting the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100