Top 4 Financial Stocks That May Implode This Quarter
Portfolio Pulse from Avi Kapoor
Four financial stocks with high RSI values, indicating potential overbought conditions, are X Financial (XYF), Tradeweb Markets Inc. (TW), MoneyLion Inc. (ML), and FS KKR Capital Corp. (FSK). XYF reported strong Q3 results with a 16% stock increase over five days. TW's trading volume grew 43.3% YoY, with a 5% stock gain over five days. ML experienced a 48% stock jump over the past month despite downbeat quarterly sales. FSK's stock rose 4% over five days after pricing a public offering of $400 million notes.
January 05, 2024 | 1:12 pm
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NEGATIVE IMPACT
FS KKR Capital gained 4% over five days after a $400 million note offering, with a 52-week high of $20.99. RSI at 77.62 is the highest among the four, indicating very overbought conditions.
FSK's extremely high RSI value could signal an imminent price correction, despite the recent gains from the note offering.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 90
NEGATIVE IMPACT
MoneyLion Inc. saw a 48% stock increase over the past month despite downbeat quarterly sales, with a 52-week high of $66.47. RSI at 75.87 indicates strong overbought conditions.
MoneyLion's high RSI value suggests the stock may be due for a pullback, especially given the recent downbeat sales report.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Tradeweb Markets reported a 43.3% increase in average daily volume YoY, with a 5% stock gain over five days and a 52-week high of $97.18. RSI at 71.68 suggests overbought conditions.
The high RSI value for TW indicates potential overbought conditions, which could lead to a short-term price decline despite strong trading volume growth.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
X Financial reported strong Q3 earnings and sales, with a significant 16% stock increase over five days and a 52-week high of $5.00. RSI at 71.36 suggests overbought conditions.
The high RSI value indicates that XYF may be overbought, which could lead to a short-term price correction despite recent positive earnings.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90