Top 3 Materials Stocks That May Plunge In Q3
Portfolio Pulse from Lisa Levin
The article identifies three overbought stocks in the materials sector that may plunge in Q3: IperionX Limited (NASDAQ:IPX), Alpha Metallurgical Resources, Inc. (NYSE:AMR), and Schnitzer Steel Industries, Inc. (NASDAQ:RDUS). Overbought status is determined by the Relative Strength Index (RSI), with an RSI above 70 indicating overbought conditions. The companies' stocks have RSI values of 71.89, 75.50, and 81.46 respectively.
September 11, 2023 | 1:01 pm
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NEGATIVE IMPACT
Alpha Metallurgical Resources, Inc.'s stock is overbought with an RSI of 75.50, indicating potential for a price drop.
The RSI is a momentum indicator that can signal overbought conditions when above 70. Alpha Metallurgical's RSI of 75.50 suggests the stock is overbought and may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
IperionX Limited's stock is overbought with an RSI of 71.89, indicating potential for a price drop.
The RSI is a momentum indicator that can signal overbought conditions when above 70. IperionX's RSI of 71.89 suggests the stock is overbought and may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Schnitzer Steel Industries, Inc.'s stock is overbought with an RSI of 81.46, indicating potential for a price drop.
The RSI is a momentum indicator that can signal overbought conditions when above 70. Schnitzer Steel's RSI of 81.46 suggests the stock is overbought and may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100