Top 3 Defensive Stocks That Should Keep You Up At Night
Portfolio Pulse from Lisa Levin
Three consumer staples stocks, US Foods Holding Corp. (USFD), Anheuser-Busch InBev SA/NV (BUD), and RLX Technology Inc. (RLX), are showing overbought signals with RSI values above 70. USFD reported strong Q3 sales and market share gains, BUD reported a 5% sales growth but missed estimates, and RLX posted upbeat Q3 earnings. All three stocks saw slight increases in their share prices on Monday.
November 14, 2023 | 12:58 pm
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NEUTRAL IMPACT
Anheuser-Busch InBev reported a 5% sales growth in Q3 but missed analyst estimates. The stock has a 52-week high of $67.09 and an RSI of 71.18. Shares closed up 0.2% at $59.71.
BUD's sales growth is a positive sign, but the missed estimates and overbought RSI could lead to mixed reactions in the short term, potentially stabilizing the stock price.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
RLX Technology reported upbeat Q3 earnings with a 52-week high of $3.06 and an RSI of 71.03. Shares surged 14.6% to close at $1.88.
RLX's positive earnings could attract investors, but the high RSI suggests the stock may be due for a correction. The recent price surge could see some consolidation.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
US Foods Holding Corp. reported strong Q3 sales and market share gains, with a 52-week high of $44.52 and an RSI of 70.62. Shares closed up 0.6% at $42.77.
While USFD's strong Q3 performance is positive, the overbought RSI may indicate a potential short-term pullback. However, the company's fundamentals could support continued investor interest.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80