Top 5 Energy Stocks That You May Want To Dump In September
Portfolio Pulse from Lisa Levin
The article lists five energy stocks that are considered overbought and may be worth selling in September. These include TETRA Technologies, Inc. (TTI), Shell plc (SHEL), Halliburton Company (HAL), Arch Resources, Inc. (ARCH), and Nabors Industries Ltd. (NBR). The Relative Strength Index (RSI) of these stocks is above 70, indicating they are overbought.
September 19, 2023 | 12:34 pm
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NEGATIVE IMPACT
Arch Resources posted weaker-than-expected Q2 earnings and its stock is considered overbought with an RSI of 80.52.
The weaker-than-expected Q2 earnings might lead to a price correction. The high RSI indicates the stock is overbought.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Halliburton's trade relationship with Russia is under scrutiny and its stock is considered overbought with an RSI of 73.73.
The scrutiny of the company's trade relationship with Russia could negatively impact the stock price. The high RSI suggests a potential price correction.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nabors Industries posted a loss for Q2 and its stock is considered overbought with an RSI of 76.68.
The Q2 loss might lead to a price correction. The high RSI indicates the stock is overbought.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Shell is facing legal action in California and its stock is considered overbought with an RSI of 70.54.
The legal action could negatively impact the company's stock price. The high RSI suggests a potential price correction.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
TETRA Technologies posted strong Q2 results but its stock is considered overbought with an RSI of 70.48.
The strong Q2 results might have led to the overbuying of the stock. However, the high RSI indicates a potential price correction in the short term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100