Top 5 Consumer Stocks That May Fall Off A Cliff
Portfolio Pulse from Lisa Levin
The article lists five consumer discretionary stocks that are considered overbought, indicating they may be overvalued and could experience a price drop. The stocks are Modine Manufacturing (MOD), Genius Group (GNS), MakeMyTrip (MMYT), Perdoceo Education (PRDO), and Light & Wonder (LNW). All these companies have recently reported better-than-expected financial results, but their Relative Strength Index (RSI) values are above 70, suggesting they are overbought.
August 16, 2023 | 12:56 pm
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NEGATIVE IMPACT
Genius Group (GNS) received a warning letter from NYSE regarding disclosure issues. Its RSI value is 76.12, suggesting it's overbought.
Genius Group's high RSI value and recent NYSE warning letter could negatively impact its stock price.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Light & Wonder (LNW) posted stronger-than-expected quarterly sales. However, its RSI value is 71.93, indicating it's overbought.
Despite strong sales, Light & Wonder's high RSI value suggests it's overbought and could see a price drop.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
MakeMyTrip (MMYT) reported better-than-expected Q1 results. However, its RSI value is 77.77, indicating it's overbought.
Despite strong Q1 results, MakeMyTrip's high RSI value suggests it's overbought and could see a price drop.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Modine Manufacturing (MOD) reported better-than-expected Q1 results and revised FY24 net revenue outlook. However, its RSI value is 71.49, indicating it's overbought.
Despite strong Q1 results, Modine Manufacturing's high RSI value suggests it's overbought and could see a price drop.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Perdoceo Education (PRDO) posted upbeat quarterly results. However, its RSI value is 78.11, suggesting it's overbought.
Despite upbeat results, Perdoceo Education's high RSI value suggests it's overbought and could see a price drop.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100