Top 3 Defensive Stocks That May Fall Off A Cliff This Quarter
Portfolio Pulse from Avi Kapoor
Three consumer staples stocks, Coca-Cola Consolidated, Inc. (COKE), Nomad Foods Limited (NOMD), and Natural Health Trends Corp. (NHTC), are considered overbought based on their RSI values, which may signal a potential short-term decline. COKE, NOMD, and NHTC have seen recent stock gains following positive financial results and raised guidance, but their RSI values suggest they might be due for a pullback.
January 17, 2024 | 1:19 pm
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Coca-Cola Consolidated's stock is considered overbought with an RSI of 71.05, despite a recent 5% gain and positive sales results.
The RSI indicator suggests that COKE is overbought, which typically precedes a short-term price decline. Given the stock's recent gains, investors might take profits, leading to a price drop.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Natural Health Trends Corp. is overbought with an RSI of 75.44 after a 10% gain and an increase in quarterly EPS.
With the highest RSI value among the three, NHTC is significantly overbought, suggesting a stronger likelihood of a price correction in the near term.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Nomad Foods Limited's stock is overbought with an RSI of 73.36 after reporting better-than-expected Q3 results and raising FY23 guidance.
NOMD's high RSI value indicates a potential short-term reversal following its recent 11% gain and positive financial news, as traders may look to lock in profits.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90