Top 5 Industrials Stocks That Could Sink Your Portfolio This Quarter
Portfolio Pulse from Lisa Levin
The article lists five industrials stocks that are considered overbought, indicating they may underperform in the short term. These include Brady Corporation (BRC), Global Industrial Company (GIC), GEE Group Inc. (JOB), Veritiv Corporation (VRTV), and RB Global, Inc. (RBA). All companies have reported better-than-expected results in their recent quarters, but their high Relative Strength Index (RSI) values suggest they are overvalued.
September 07, 2023 | 12:44 pm
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NEGATIVE IMPACT
Brady Corporation reported better-than-expected Q4 results and increased its annual dividend. However, its high RSI value of 77.57 suggests it's overbought.
Brady Corporation's high RSI value indicates it's overbought, which could lead to a price correction in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Global Industrial Company posted better-than-expected quarterly results. Its RSI value of 70.13 suggests it's overbought.
Global Industrial Company's high RSI value indicates it's overbought, which could lead to a price correction in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
GEE Group posted upbeat earnings for its Q3 and announced a cooperation agreement with Red Oak Partners. Its RSI value of 70.93 suggests it's overbought.
GEE Group's high RSI value indicates it's overbought, which could lead to a price correction in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
RB Global, Inc. reported its subsidiary sold nearly US$44 million of equipment. However, its high RSI value of 70.64 suggests it's overbought.
RB Global, Inc.'s high RSI value indicates it's overbought, which could lead to a price correction in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Veritiv Corporation reported better-than-expected Q2 financial earnings. However, its high RSI value of 77.81 suggests it's overbought.
Veritiv Corporation's high RSI value indicates it's overbought, which could lead to a price correction in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100