Top 4 Tech And Telecom Stocks That May Fall Off A Cliff In Q4
Portfolio Pulse from Avi Kapoor
Four tech and telecom stocks in the communication services sector are showing signs of being overbought according to their RSI values, which may indicate a potential short-term decline. Advantage Solutions Inc. (ADV), Globalstar, Inc. (GSAT), TrueCar, Inc. (TRUE), and ATN International, Inc. (ATNI) have all seen significant price increases over the past month, but their RSI values are above 70, suggesting they might be due for a correction.
December 29, 2023 | 1:52 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Advantage Solutions Inc. has seen a 40% stock increase over the past month, with a high RSI value of 75.75, indicating potential overbought conditions.
The high RSI value suggests that ADV may have been overbought, which often precedes a short-term price decline as traders may take profits.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
ATN International, Inc. saw a 30% stock increase and expanded its share repurchase program, but an RSI of 75.67 may indicate a short-term downturn.
ATNI's stock repurchase and dividend increase are positive, but the high RSI value could mean the stock is due for a short-term pullback.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Globalstar, Inc. reported a 53% sales growth in Q3 and a stock gain of 19% over the past month, but its RSI of 74.64 could signal an upcoming correction.
GSAT's recent sales growth is positive, but the high RSI value may lead to a short-term price drop as the stock could be overbought.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
TrueCar, Inc. experienced a 27% stock increase after posting upbeat quarterly sales, but its RSI of 75.46 suggests it might be overextended.
TRUE's positive sales report is encouraging, but the overbought RSI level could lead to a price correction in the near term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90