Top 3 Real Estate Stocks You May Want To Dump in Q4
Portfolio Pulse from Avi Kapoor
Three real estate stocks, Compass Inc. (COMP), Redfin Corporation (RDFN), and Douglas Elliman Inc. (DOUG), are showing overbought signals with RSI values above 70, indicating potential short-term performance concerns. COMP, RDFN, and DOUG have seen significant price increases over the past month, despite mixed quarterly results.
December 27, 2023 | 1:15 pm
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NEGATIVE IMPACT
Compass Inc. has an RSI of 81.17 after a 70% stock increase over the past month, despite weaker-than-expected Q3 results.
The high RSI value suggests COMP is overbought, which could lead to a price correction, especially given the weaker Q3 results.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Douglas Elliman Inc. saw an 80% stock increase over the past month with an RSI of 81.26, after posting a narrower-than-expected quarterly loss.
DOUG's significant price jump and high RSI indicate it may be overextended, and a price correction could be imminent.
CONFIDENCE 75
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Redfin Corporation's stock gained 44% over the past month with an RSI of 70.22, despite beating Q3 GAAP loss estimates.
RDFN's RSI at the threshold of overbought territory could signal a potential downturn, even though Q3 results were better than expected.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 85