Top 5 Industrials Stocks That May Collapse This Month
Portfolio Pulse from Lisa Levin
Five industrial stocks with high RSI values, indicating potential overbought conditions, are Builders FirstSource (BLDR), Hyster-Yale Materials Handling (HY), PACCAR (PCAR), Insteel Industries (IIIN), and Wabash National (WNC). BLDR, despite a sales decline, saw a 14% stock increase and closed at $143.26. HY's stock rose 15% after better-than-expected sales, closing at $50.07. PCAR beat sales consensus and its stock increased by 9%, closing at $93.87. IIIN, after weak results, saw a 7% stock increase over five days, closing at $36.03. WNC's stock rose 9% following strong earnings, closing at $23.72.
December 06, 2023 | 1:41 pm
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NEGATIVE IMPACT
Builders FirstSource's stock rose 14% despite a sales decline, with an RSI of 72.23, indicating it may be overbought.
The high RSI value suggests that BLDR may be overbought, which could lead to a short-term price correction.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Hyster-Yale's stock increased by 15% after reporting better-than-expected sales, with an RSI of 75.62, signaling overbought conditions.
The RSI value above 70 suggests that HY's stock might face a pullback as it is considered overbought.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Insteel Industries saw a 7% stock increase over five days after weak results, with an RSI of 71.94, hinting at overbought status.
Despite the recent gains, IIIN's high RSI value could lead to a price correction as the stock appears to be overbought.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
PACCAR's stock rose 9% after beating sales estimates, with an RSI of 73.74, which could mean the stock is overbought.
With an RSI well above 70, PCAR's recent gains might not be sustainable in the short term, suggesting a possible downturn.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Wabash National's stock increased by 9% following strong earnings, with an RSI of 73.12, suggesting it may be overbought.
WNC's stock might experience a short-term decline as the RSI indicates it could be overextended in the current market.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90