Top 5 Industrials Stocks That Should Keep You Up At Night
Portfolio Pulse from Lisa Levin
The article lists five overbought stocks in the industrials sector, which could present an opportunity to short sell. The companies mentioned are CompX International Inc. (CIX), Ultralife Corporation (ULBI), Vertiv Holdings Co (VRT), Sterling Check Corp. (STER), and Jacobs Solutions Inc. (J). The overbought status is determined by the Relative Strength Index (RSI), which is above 70 for all these stocks.
August 24, 2023 | 12:01 pm
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NEGATIVE IMPACT
CompX International reported a decline in Q2 EPS. Its stock fell 14% to close at $21.60 on Wednesday, with an RSI of 73.46.
The decline in EPS and the high RSI value indicate that the stock is overvalued and could face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Jacobs Solutions reported better-than-expected Q3 revenue results and issued FY23 guidance. Its stock fell 0.2% to settle at $136.14 on Wednesday. Its RSI is 70.74.
Despite strong Q3 revenue, the stock fell slightly, indicating a potential overvaluation. The high RSI value supports this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sterling Check posted better-than-expected quarterly earnings, but its stock fell 1.7% to close at $14.07 on Wednesday. Its RSI is 71.45.
Despite strong earnings, the stock fell, indicating a potential overvaluation. The high RSI value supports this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Ultralife reported better-than-expected Q2 results, but its stock fell 8.8% to close at $9.51 on Wednesday. Its RSI is 83.51.
Despite strong Q2 results, the stock fell, indicating a potential overvaluation. The high RSI value supports this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Vertiv Holdings posted upbeat Q2 results and its stock gained 2% to close at $35.68 on Wednesday. Its RSI is 74.30.
Despite positive Q2 results and a slight gain in stock price, the high RSI value suggests the stock may be overvalued.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100