Top 4 Defensive Stocks That You May Want To Dump In November
Portfolio Pulse from Lisa Levin
Four consumer staples stocks are considered overbought based on their Relative Strength Index (RSI) values, which may concern momentum-focused investors. Anheuser-Busch InBev SA/NV (BUD) reported Q3 sales growth but missed estimates, with a RSI of 74.03. Kraft Heinz Company (KHC) announced a $3 billion share repurchase program, with a RSI of 72.09. Target Corporation (TGT) posted better-than-expected Q3 results, with a RSI of 72.90. BRF S.A. (BRFS) reported a Q3 loss, with a RSI of 74.07. All stocks have seen recent price increases but experienced slight declines or modest gains on the last trading day reported.
November 30, 2023 | 1:09 pm
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NEGATIVE IMPACT
BRF S.A. reported a Q3 loss and has a RSI of 74.07, indicating it may be overbought despite recent gains.
The company's Q3 loss combined with an overbought RSI suggests that the stock's recent gains might not be sustainable, leading to a possible short-term price drop.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Anheuser-Busch InBev reported a 5% sales growth in Q3 but missed estimates, with a RSI of 74.03 indicating an overbought condition.
The overbought status based on RSI may lead to a short-term pullback as traders who follow momentum indicators might consider taking profits.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Kraft Heinz announced a $3 billion share repurchase program and has a RSI of 72.09, suggesting it may be overbought.
The share repurchase program is a positive signal, but the high RSI could indicate a potential short-term downturn as the stock may be due for a correction.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 80
NEGATIVE IMPACT
Target reported better-than-expected Q3 results, but with a RSI of 72.90, the stock might be overbought.
Despite strong Q3 results, the high RSI could lead to a short-term price decline as investors might consider the stock overvalued and due for a correction.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 80