Top 5 Financial Stocks That Could Sink Your Portfolio In Q4
Portfolio Pulse from Lisa Levin
Five financial stocks with high RSI values, indicating potential overbought conditions, experienced price declines on Nov. 16, 2023. Velocity Financial, Inc. (VEL) reported strong quarterly results but saw a 14.1% drop in share price. MoneyLion Inc. (ML) had downbeat sales yet reached a record quarter, with shares falling 7.6%. Arrow Financial Corporation (AROW) showed substantial loan growth and fell 3.1%. Northeast Community Bancorp, Inc. (NECB) reported strong earnings with a 2.5% decline in shares. Camden National Corporation (CAC) had downbeat results and a 1.8% drop in share price.
November 16, 2023 | 1:49 pm
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NEGATIVE IMPACT
Arrow Financial reported strong earnings and loan growth but saw a 3.1% decrease in share price.
Despite positive earnings, the high RSI value could indicate a potential pullback in the stock's short-term trajectory.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
Camden National reported downbeat results and saw a 1.8% decline in its share price.
Poor quarterly performance coupled with an overbought RSI could signal further downside in the near term for Camden National's stock.
CONFIDENCE 65
IMPORTANCE 50
RELEVANCE 70
NEGATIVE IMPACT
MoneyLion Inc. posted downbeat sales but still reached a record quarter, with shares falling 7.6%.
The combination of downbeat sales and a high RSI could continue to pressure the stock price in the short term.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 85
NEGATIVE IMPACT
Northeast Community Bancorp reported better-than-expected sales but experienced a 2.5% drop in share price.
The stock's decline, despite positive sales, could be exacerbated by its overbought RSI status, suggesting a bearish short-term outlook.
CONFIDENCE 70
IMPORTANCE 55
RELEVANCE 75
NEGATIVE IMPACT
Velocity Financial reported strong quarterly results but experienced a significant share price drop of 14.1%.
The high RSI value suggests overbought conditions which, combined with the recent price drop, could lead to further short-term declines.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90