Top 5 Tech And Telecom Stocks That May Crash In December
Portfolio Pulse from Avi Kapoor
Five stocks in the communication services sector are showing overbought signals according to their RSI values, potentially indicating a short-term pullback. System1, Inc. (SST), Gannett Co., Inc. (GCI), Tencent Music Entertainment Group (TME), Take-Two Interactive Software, Inc. (TTWO), and Roblox Corporation (RBLX) have all seen significant price increases recently, which has pushed their RSI values above the typical overbought threshold of 70.
December 13, 2023 | 1:35 pm
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NEGATIVE IMPACT
Gannett Co. saw a 20% increase over the past month with a 52-week high of $3.60 and an RSI of 70.30, hinting at potential overbought conditions.
GCI's RSI just crossing the overbought threshold could lead to a price correction if traders perceive the stock to be overvalued.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Roblox Corporation's stock rose 8% in the past month, hitting a 52-week high of $47.65, with an RSI of 72.95, potentially overbought.
RBLX's RSI nearing the overbought threshold may lead to a short-term price drop as the market could adjust after recent gains.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
System1's stock surged 75% in five days, reaching a 52-week high of $5.58, with an RSI of 83.78, indicating it may be overbought.
The high RSI value significantly above 70 suggests that SST may be overbought, which could lead to a short-term price decline as traders may take profits.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Tencent Music's stock increased by 20% in the past month, with a 52-week high of $9.29 and an RSI of 74.84, suggesting overbought territory.
TME's RSI above 70 indicates that the stock might be overbought, which could lead to a short-term price decline as investors might sell to realize gains.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Take-Two Interactive's stock is up 5% over the past month, with a 52-week high of $161.60 and an RSI of 73.39, indicating it may be overbought.
With TTWO's RSI above the overbought level, the stock may see a short-term price correction as traders might consider the recent gains excessive.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80