Top 4 Tech Stocks That May Collapse In October
Portfolio Pulse from Lisa Levin
The article lists four tech stocks that are considered overbought and may collapse in October. These include Jabil Inc. (JBL), New Relic, Inc. (NEWR), PFSweb, Inc. (PFSW), and Splunk Inc. (SPLK). The overbought status is determined by the Relative Strength Index (RSI), which is above 70 for all these stocks. Jabil reported mixed Q4 results, New Relic is set to be acquired by Francisco Partners and TPG, PFSweb is to be acquired by GXO Logistics, and Splunk is to be acquired by Cisco.
October 06, 2023 | 11:30 am
News sentiment analysis
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NEGATIVE IMPACT
Jabil Inc. reported mixed Q4 results and strong Q1 earnings guidance. Its RSI value is 73.20, indicating it is overbought.
The overbought status and mixed Q4 results could lead to a short-term price drop.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
New Relic, Inc. reported better-than-expected Q1 results and is set to be acquired by Francisco Partners and TPG. Its RSI value is 77.91, indicating it is overbought.
The overbought status and acquisition news could lead to a short-term price drop.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
PFSweb, Inc. is set to be acquired by GXO Logistics. Its RSI value is 83.80, indicating it is overbought.
The overbought status and acquisition news could lead to a short-term price drop.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Splunk Inc. is set to be acquired by Cisco. Its RSI value is 83.85, indicating it is overbought.
The overbought status and acquisition news could lead to a short-term price drop.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100