Top 5 Financial Stocks That May Keep You Up At Night In December
Portfolio Pulse from Avi Kapoor
Five financial stocks with high RSI values, indicating potential overbought conditions, are causing concern for momentum investors. AssetMark Financial (AMK) reported strong Q3 results and its stock rose 12% over the past month. ACRES Commercial Realty (ACR) announced a $10 million share repurchase program and saw a 25% stock increase. PagSeguro Digital (PAGS) experienced a 23% stock jump. SoFi Technologies (SOFI) reported better than expected results and raised guidance, leading to a 20% stock gain. Ryvyl Inc. (RVYL) regained Nasdaq compliance and its stock increased by 21%.
December 19, 2023 | 1:16 pm
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NEGATIVE IMPACT
ACRES Commercial Realty's new share repurchase program and a 25% stock gain are overshadowed by an extremely high RSI of 87.65, suggesting a potential short-term downturn.
The RSI significantly above the overbought threshold could lead to profit-taking and a subsequent decrease in the stock price.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
AssetMark Financial's strong Q3 results led to a 12% stock increase, but a high RSI of 79.39 suggests overbought conditions that could lead to a short-term pullback.
The high RSI value indicates that the stock may be overextended, and despite strong earnings, there could be a price correction in the short term.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
PagSeguro Digital's stock rose 23% over the past month, but an RSI of 80.42 may indicate an imminent price correction.
Investors might consider the stock overbought due to the high RSI, which could lead to a short-term reversal.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Ryvyl Inc.'s stock surged 21% after regaining Nasdaq compliance, but with an RSI of 71.08, the stock may face a short-term downward correction.
The compliance news has been positive, yet the RSI just above 70 suggests the stock might retract as traders take profits.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
SoFi Technologies' positive earnings and raised guidance resulted in a 20% stock increase, but a high RSI of 77.71 could signal a near-term pullback.
The positive financial results are tempered by the RSI indicator, which suggests the stock might be due for a short-term decline.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 85