Top 4 Financial Stocks That May Fall Off A Cliff In Q4
Portfolio Pulse from Lisa Levin
Four financial stocks are considered overbought based on their RSI values, which may signal a potential short-term decline. Coinbase Global (COIN) has an RSI of 87.12, PJT Partners (PJT) 79.84, Houlihan Lokey (HLI) 75.74, and Live Oak Bancshares (LOB) 72.69. COIN recently saw a price target increase from Mizuho, PJT and HLI are set to join S&P indices, and LOB appointed a new CFO.
December 04, 2023 | 1:39 pm
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NEGATIVE IMPACT
Coinbase Global's stock is overbought with an RSI of 87.12, despite a recent price target increase from Mizuho.
A high RSI typically indicates that a stock may be overextended and could face a pullback. The recent price target increase by Mizuho may have contributed to the stock's rapid rise, but the overbought status suggests a potential short-term decline.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Houlihan Lokey's RSI of 75.74 indicates an overbought condition, despite its upcoming inclusion in the S&P MidCap 400.
While the move to the S&P MidCap 400 is positive, Houlihan Lokey's high RSI suggests the stock may be due for a short-term pullback.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Live Oak Bancshares shows an overbought signal with an RSI of 72.69, after appointing a new CFO.
The appointment of a new CFO is a positive development, but the overbought RSI level may lead to a short-term price correction for Live Oak Bancshares.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
PJT Partners is overbought with an RSI of 79.84 and will join the S&P SmallCap 600, potentially impacting its stock price.
PJT Partners' inclusion in the S&P SmallCap 600 could initially boost the stock, but the overbought RSI suggests that the stock might face a short-term correction.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80