Top 4 Financial Stocks That May Fall Off A Cliff
Portfolio Pulse from Lisa Levin
Four financial stocks, Goosehead Insurance, Inc (GSHD), UBS Group AG (UBS), TPG Inc. (TPG), and W. R. Berkley Corporation (WRB), are considered overbought with their Relative Strength Index (RSI) values above 70, indicating they may be overvalued. GSHD was upgraded by BMO Capital with a raised price target. UBS is facing slow approvals in its takeover of Credit Suisse. TPG reported worse-than-expected Q2 results. WRB declared a special cash dividend.
September 20, 2023 | 2:20 pm
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NEGATIVE IMPACT
Goosehead Insurance, Inc (GSHD) is considered overbought with an RSI of 72.85. The stock was upgraded by BMO Capital with a raised price target.
The overbought status of GSHD, indicated by an RSI above 70, suggests that the stock may be overvalued and could face a price correction. However, the upgrade by BMO Capital could provide some support.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
TPG Inc. (TPG) is considered overbought with an RSI of 70.68. The company reported worse-than-expected Q2 results.
TPG's overbought status and worse-than-expected Q2 results could lead to a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
UBS Group AG (UBS) is considered overbought with an RSI of 71.27. The company is facing slow approvals in its takeover of Credit Suisse.
UBS's overbought status and the slow approvals in its takeover of Credit Suisse could negatively impact the stock price in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
W. R. Berkley Corporation (WRB) is considered overbought with an RSI of 70.80. The company declared a special cash dividend.
Despite the special cash dividend, WRB's overbought status could lead to a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100