Top 4 Tech And Telecom Stocks That May Crash This Month
Portfolio Pulse from Lisa Levin
The article identifies four overbought stocks in the communication services sector that may crash this month. These include Harte Hanks, Inc. (HHS), Travelzoo (TZOO), Direct Digital Holdings, Inc. (DRCT), and Roblox Corporation (RBLX). The Relative Strength Index (RSI) of these stocks is above 70, indicating they are overbought and may face a price correction.
November 10, 2023 | 12:20 pm
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NEGATIVE IMPACT
Direct Digital reported better-than-expected Q3 results. Its RSI value is 75.18, indicating it is overbought.
Despite better-than-expected results, the company's high RSI value suggests a potential price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Harte Hanks posted weaker-than-expected quarterly results and faces macroeconomic headwinds. Its RSI value is 72.84, indicating it is overbought.
The company's weaker-than-expected results and macroeconomic headwinds, combined with its high RSI value, suggest a potential price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Roblox reported an earnings loss for the recent quarter. Its RSI value is 71.94, indicating it is overbought.
The company's earnings loss and high RSI value suggest a potential price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Travelzoo reported better-than-expected Q3 results and announced a 1 million share buyback. Its RSI value is 73.75, indicating it is overbought.
Despite better-than-expected results and a share buyback, the company's high RSI value suggests a potential price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 100