Top 4 Tech And Telecom Stocks That May Fall Off A Cliff In Q4
Portfolio Pulse from Lisa Levin
The article lists four overbought stocks in the communication services sector that may experience a fall in Q4. These include Telecom Argentina S.A. (NYSE:TEO), Frontier Communications Parent, Inc. (NASDAQ:FYBR), SciPlay Corporation (NASDAQ:SCPL), and IDT Corporation (NYSE:IDT). The overbought status is determined by the Relative Strength Index (RSI), which is above 70 for all these stocks.
October 20, 2023 | 11:30 am
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NEGATIVE IMPACT
Frontier Communications' stock is overbought with an RSI of 71.56. The stock fell 0.8% to close at $18.78 on Thursday.
The stock is overbought according to its RSI, indicating it may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
IDT Corporation's stock is overbought with an RSI of 76.19. The stock gained 0.6% to close at $29.68 on Thursday.
The stock is overbought according to its RSI, indicating it may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SciPlay Corporation's stock is overbought with an RSI of 75.92. The stock rose 0.1% to close at $22.94 on Thursday.
The stock is overbought according to its RSI, indicating it may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Telecom Argentina's stock is overbought with an RSI of 70.54. The stock fell 2.3% to close at $5.87 on Thursday.
The stock is overbought according to its RSI, indicating it may be due for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100