Top 5 Industrials Stocks That Could Sink Your Portfolio This Quarter
Portfolio Pulse from Avi Kapoor
Five industrial stocks with high Relative Strength Index (RSI) values are identified as potentially overbought and could pose a risk for momentum investors this quarter. NN, Inc. (NNBR), CBAK Energy Technology, Inc. (CBAT), Optex Systems Holdings, Inc. (OPXS), VirTra, Inc. (VTSI), and ZIM Integrated Shipping Services Ltd. (ZIM) have all seen significant price increases and have RSI values above 70, indicating they may be overbought.
January 23, 2024 | 12:47 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
CBAK Energy Technology, Inc. (CBAT) reported increased sales and a 2% gain over the past month, with an RSI of 71.09.
CBAK Energy's RSI just above the overbought threshold could lead to a price correction if investors start to sell off.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
NEGATIVE IMPACT
NN, Inc. (NNBR) has seen a 44% increase in stock price over six months, with a recent RSI of 71.14, suggesting potential overbought status.
With a high RSI value indicating overbought conditions, NNBR's stock may face a short-term pullback as traders might consider taking profits.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Optex Systems Holdings, Inc. (OPXS) acquired Speedtracker and has seen a 60% stock increase over six months, with an RSI of 79.41.
The significant rise in OPXS's stock price and the extremely high RSI suggest that the stock may be due for a correction.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
VirTra, Inc. (VTSI) posted a Q3 profit and a 32% stock increase over the past month, with an RSI of 78.98.
VirTra's high RSI and recent profit announcement might have driven the stock to an overbought state, increasing the risk of a price decline.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 80
NEGATIVE IMPACT
ZIM Integrated Shipping Services Ltd. (ZIM) reported a tech deployment deal and a 28% stock increase over the past month, with an RSI of 76.62.
ZIM's recent deal and stock rise have pushed its RSI into overbought territory, which could lead to a short-term reversal in stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 85