Top 4 Tech And Telecom Stocks That May Crash In January
Portfolio Pulse from Avi Kapoor
Four communication services sector stocks are showing signs of being overbought according to their Relative Strength Index (RSI) values, which may indicate a potential short-term pullback. Beasley Broadcast Group, Inc. (BBGI) reported a decrease in net revenues and has an RSI of 75.48. Fluent, Inc. (FLNT) posted weak quarterly results with an RSI of 78.11. Reading International, Inc. (RDI) reported a narrower quarterly loss and has an RSI of 70.78. PLDT Inc. (PHI) has an RSI of 70.60. All stocks have recently experienced price increases but may face a downturn due to their overbought status.
January 12, 2024 | 1:26 pm
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NEGATIVE IMPACT
Beasley Broadcast Group reported a 5.8% year-over-year revenue decrease and has an RSI of 75.48, indicating an overbought condition that could lead to a price correction.
The high RSI value suggests that BBGI is overbought, which typically precedes a price decline. The recent price jump and negative revenue report further support the likelihood of a short-term negative impact.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Fluent, Inc. experienced weak quarterly results and has an RSI of 78.11, which is well into the overbought territory, potentially leading to a short-term price drop.
FLNT's high RSI value and recent price surge suggest an overextended stock that may correct. The company's weak financial results could exacerbate the expected negative price movement.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
PLDT Inc. has an RSI of 70.60, suggesting it may be overbought. The stock could see a short-term decline after its recent performance.
PHI's RSI is just above the overbought level, which may not be as strong a signal as the others, but it still suggests a possible price correction, especially if the broader market reacts to overbought signals.
CONFIDENCE 65
IMPORTANCE 60
RELEVANCE 70
NEGATIVE IMPACT
Reading International reported improved revenues but with an RSI of 70.78, the stock may be at risk of a short-term pullback after its recent gains.
RDI's RSI is marginally over the overbought threshold, and while the company's revenues improved, the stock may still face a pullback due to the recent price increase and overbought status.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80