Top 4 Tech Stocks That Should Keep You Up At Night
Portfolio Pulse from Lisa Levin
Four tech stocks in the information technology sector are showing overbought signals according to their Relative Strength Index (RSI) values, which could be a warning to momentum investors. Ondas Holdings Inc. (ONDS) reported a narrower-than-expected quarterly loss and achieved record revenue, with an RSI of 82.79. Gen Digital Inc. (GEN) reported better-than-expected sales and has an RSI of 77.80. Porch Group, Inc. (PRCH) also reported better-than-expected sales with an RSI of 76.58. Taiwan Semiconductor Manufacturing Company Limited (TSM) is considering a new advanced chipmaking plant in Japan and has an RSI of 72.15.
November 21, 2023 | 1:26 pm
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NEGATIVE IMPACT
Gen Digital Inc. reported better-than-expected sales results, with an RSI of 77.80, which could signal a potential pullback in the short term.
Gen Digital Inc.'s overbought status as indicated by the RSI may lead to a short-term decline in stock price, despite strong sales performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 85
NEGATIVE IMPACT
Ondas Holdings Inc. reported a narrower-than-expected quarterly loss and achieved record revenue, with a high RSI of 82.79 indicating an overbought condition.
The high RSI value suggests that Ondas Holdings Inc. might see a short-term price correction due to being overbought, despite the positive earnings report.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Porch Group, Inc. reported better-than-expected sales with an RSI of 76.58, suggesting the stock may be overbought and due for a price adjustment.
The RSI indicates that Porch Group, Inc. is potentially overbought, which could lead to a price correction despite the positive sales report.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 80
NEGATIVE IMPACT
Taiwan Semiconductor Manufacturing is considering a new plant in Japan and has an RSI of 72.15, potentially indicating an overbought situation.
Taiwan Semiconductor's RSI suggests it may be overbought, which could overshadow the news of its potential new plant in Japan, leading to a short-term price drop.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 75