Top 4 Tech And Telecom Stocks That May Keep You Up At Night In Q1
Portfolio Pulse from Avi Kapoor
Four communication services sector stocks are showing overbought signals according to their RSI values, which may concern momentum investors. Fox Corporation (FOX) and Sinclair have renewed their affiliation agreement, boosting FOX's stock. AdTheorent Holding Company (ADTH) reported a Q3 loss but saw stock gains due to growth in key investment areas. Alphabet Inc. (GOOG) settled a major patent lawsuit, positively impacting its stock. Netflix, Inc. (NFLX) reported Q4 revenue exceeding expectations, leading to a stock increase.
January 26, 2024 | 1:24 pm
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NEUTRAL IMPACT
AdTheorent Holding reported a Q3 loss but experienced significant stock gains, with an RSI of 83.24 indicating an overbought condition.
Despite the Q3 loss, the stock's significant gains are a positive sign. However, the high RSI could mean the stock is due for a correction.
CONFIDENCE 75
IMPORTANCE 60
RELEVANCE 80
NEUTRAL IMPACT
Fox Corporation's stock rose after renewing its affiliation agreement with Sinclair, showing an overbought RSI of 74.53.
The renewal with Sinclair is positive news, but the overbought RSI may lead to a short-term pullback as some investors might consider taking profits.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEUTRAL IMPACT
Alphabet's settlement of a patent lawsuit has contributed to a stock rise, with an RSI of 73.92 suggesting an overbought scenario.
The settlement of the lawsuit is a relief for investors, but the current RSI level may indicate that the stock could face a short-term downturn.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 80
NEUTRAL IMPACT
Netflix's Q4 revenue beat expectations, leading to a 16% stock increase over five days, but an RSI of 78.03 points to overbought conditions.
Netflix's strong revenue report is a bullish signal, but the high RSI may lead to a temporary dip as the market digests the recent gains.
CONFIDENCE 80
IMPORTANCE 80
RELEVANCE 80