Top 4 Utilities Stocks That Could Sink Your Portfolio In December
Portfolio Pulse from Avi Kapoor
As of Dec. 28, 2023, Otter Tail Corporation (OTTR), Clearway Energy, Inc. (CWEN), ReNew Energy Global Plc (RNW), and Genie Energy Ltd. (GNE) are considered overbought according to their RSI values, which could signal a potential short-term decline in their stock prices. Each company has experienced significant stock price increases over the past month, with OTTR, CWEN, and GNE seeing their shares fall recently, while RNW's shares gained slightly.
December 28, 2023 | 1:50 pm
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NEGATIVE IMPACT
Clearway Energy, Inc. has an RSI of 72.04 and its stock has risen about 10% in the past month, indicating a possible short-term correction.
CWEN's overbought status based on its RSI could lead to a short-term price drop as investors may start selling to capitalize on the recent gains.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Genie Energy Ltd. has an RSI of 71.04 after a 22% increase over the past month, hinting at a possible short-term price drop.
GNE's stock may be due for a short-term correction given its high RSI value, especially after a recent price surge and a slight decline in the latest trading session.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Otter Tail Corporation's stock is overbought with an RSI of 75.51 after a 17% increase over the past month, signaling potential short-term downside.
The high RSI value suggests that OTTR may be overextended and could face a pullback as traders might consider taking profits, leading to a short-term price decline.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
ReNew Energy Global Plc's stock is overbought with an RSI of 73.10, despite a recent gain of 0.7%, suggesting a potential short-term pullback.
RNW's RSI indicates it may be overvalued after a 23% increase over the past month, and the stock could see a short-term decline as the market corrects.
CONFIDENCE 75
IMPORTANCE 70
RELEVANCE 80