Top 4 Financial Stocks That May Collapse This Quarter
Portfolio Pulse from Lisa Levin
The article lists four financial stocks that are considered overbought and may collapse this quarter. These include Assurant, Inc. (AIZ), Mercury General Corp (MCY), Universal Insurance Holdings, Inc. (UVE), and Avantax Inc (AVTA). The Relative Strength Index (RSI) values for these stocks are above 70, indicating they are overbought.
November 03, 2023 | 11:33 am
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NEGATIVE IMPACT
Assurant, Inc. reported better-than-expected Q3 sales results. Its RSI value is 73.54, indicating it is overbought.
Assurant's RSI value is above 70, which typically indicates that a stock is overbought and may face a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Avantax Inc entered an agreement to be acquired by Cetera Holdings for $26 per share in cash. Its RSI value is 70.68, indicating it is overbought.
Avantax's RSI value is above 70, which typically indicates that a stock is overbought and may face a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Mercury General Corp reported a YoY increase in Q3 adjusted EPS results. Its RSI value is 79.92, indicating it is overbought.
Mercury General's RSI value is above 70, which typically indicates that a stock is overbought and may face a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Universal Insurance Holdings, Inc. posted a narrower-than-expected quarterly loss. Its RSI value is 73.18, indicating it is overbought.
Universal Insurance's RSI value is above 70, which typically indicates that a stock is overbought and may face a price correction in the short term.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 100