Top 3 Energy Stocks That May Fall Off A Cliff This Month
Portfolio Pulse from Lisa Levin
The article identifies Liberty Energy Inc. (LBRT), Energy Services of America Corporation (ESOA), and TORM plc (TRMD) as overbought stocks in the energy sector, suggesting they may be overvalued and could experience a price drop. The Relative Strength Index (RSI) values for these companies are above 70, indicating they are overbought. Despite recent positive financial results, the high RSI values suggest potential short-term price declines.
October 25, 2023 | 12:31 pm
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NEGATIVE IMPACT
Energy Services of America Corporation is overbought with an RSI value of 75. Despite a record revenue quarter, the stock may face a short-term price drop.
Energy Services of America's high RSI value indicates it is overbought, which often precedes a price correction. Despite record revenue, this technical indicator suggests potential downside risk.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Liberty Energy Inc. is considered overbought with an RSI value of 70.83. Despite positive Q3 results, the stock may face a short-term price drop.
Liberty Energy's high RSI value indicates it is overbought, which often precedes a price correction. Despite positive Q3 results, this technical indicator suggests potential downside risk.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
TORM plc is overbought with an RSI value of 73.14. Despite positive Q2 results, the stock may face a short-term price drop.
TORM's high RSI value indicates it is overbought, which often precedes a price correction. Despite positive Q2 results, this technical indicator suggests potential downside risk.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100