Top 5 Tech Stocks That May Plunge This Quarter
Portfolio Pulse from Lisa Levin
The article lists five tech stocks that are considered overbought and may plunge this quarter. These include MicroCloud Hologram Inc. (NASDAQ:HOLO), Hollysys Automation Technologies Ltd. (NASDAQ:HOLI), Fabrinet (NYSE:FN), AppLovin Corporation (NASDAQ:APP), and Black Knight, Inc. (NYSE:BKI). The Relative Strength Index (RSI) of these stocks is above 70, indicating they are overbought.
August 25, 2023 | 12:39 pm
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NEGATIVE IMPACT
AppLovin Corporation's stock has an RSI of 72.65, indicating it is overbought.
The stock's RSI is above 70, indicating it is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Black Knight, Inc.'s stock has an RSI of 72.46, indicating it is overbought.
The stock's RSI is above 70, indicating it is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Fabrinet's stock has an RSI of 77.51, indicating it is overbought.
The stock's RSI is above 70, indicating it is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Hollysys Automation Technologies has an RSI of 72.36, indicating it is overbought.
The stock's RSI is above 70, indicating it is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
MicroCloud Hologram's stock jumped 203% over the past month and has an RSI of 80.89, indicating it is overbought.
The stock has jumped significantly over the past month and its RSI is well above 70, indicating it is overbought and may face a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100