Top 4 Consumer Stocks That May Fall Off A Cliff
Portfolio Pulse from Lisa Levin
The article lists four consumer stocks that are considered overbought and may be due for a correction. These include TAL Education Group (TAL), Abercrombie & Fitch Co. (ANF), Stride, Inc. (LRN), and Phoenix Motor Inc. (PEV). The Relative Strength Index (RSI) values for these stocks are above 70, indicating they may be overvalued.
September 29, 2023 | 11:44 am
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NEGATIVE IMPACT
Abercrombie & Fitch Co.'s stock is considered overbought with an RSI of 71.45. Telsey Advisory Group analyst Dana Telsey reiterated an Outperform rating on the company, raising the price target to $62.
The high RSI indicates that the stock may be overvalued and could experience a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Stride, Inc.'s stock is considered overbought with an RSI of 70.78. The company reported better-than-expected Q4 financial results.
The high RSI indicates that the stock may be overvalued and could experience a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Phoenix Motor Inc.'s stock is considered overbought with an RSI of 80.50. SPI Energy disclosed the sale of 12 million shares of its subsidiary, Phoenix Motor Inc, at $1.02 per share.
The high RSI indicates that the stock may be overvalued and could experience a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
TAL Education Group's stock is considered overbought with an RSI of 74.73. The company is expected to release its Q2 2024 financial results on Oct. 26, 2023.
The high RSI indicates that the stock may be overvalued and could experience a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100