Top 3 Tech And Telecom Stocks That Should Keep You Up At Night
Portfolio Pulse from Lisa Levin
The article lists three overbought stocks in the communication services sector, which are considered overvalued and present an opportunity to go short. The stocks are JOYY Inc. (NASDAQ:YY), Activision Blizzard, Inc. (NASDAQ:ATVI), and SciPlay Corporation (NASDAQ:SCPL). The Relative Strength Index (RSI) values for these stocks are above 70, indicating they are overbought. Microsoft Corp (NASDAQ:MSFT) is also mentioned in relation to its acquisition strategy for Activision Blizzard.
September 28, 2023 | 10:59 am
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NEUTRAL IMPACT
Microsoft Corp is mentioned in relation to its acquisition strategy for Activision Blizzard.
Microsoft's mention is in relation to its acquisition strategy for Activision Blizzard, but there's no direct impact on its stock from this news.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 50
NEGATIVE IMPACT
Activision Blizzard, Inc. is considered overbought with an RSI value of 74.02. The stock fell 0.1% to close at $93.92 on Wednesday.
The high RSI value indicates that the stock is overbought and may be due for a price correction. The recent price drop supports this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SciPlay Corporation is considered overbought with an RSI value of 70.69. The stock rose 0.1% to close at $22.76 on Wednesday.
The high RSI value indicates that the stock is overbought and may be due for a price correction, despite the recent slight price increase.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
JOYY Inc. is considered overbought with an RSI value of 70.30. The stock fell 2.4% to close at $38.97 on Wednesday.
The high RSI value indicates that the stock is overbought and may be due for a price correction. The recent price drop supports this.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100