Top 4 Utilities Stocks You May Want To Dump This Month
Portfolio Pulse from Avi Kapoor
As of Feb. 8, 2024, four utilities stocks are considered overbought based on their RSI values, indicating potential short-term performance concerns. Korea Electric Power Corporation (KEP), Vistra Corp. (VST), Constellation Energy Corporation (CEG), and Otter Tail Corporation (OTTR) have all seen significant price gains recently, pushing their RSI values above 70, a level often considered overbought.
February 08, 2024 | 12:03 pm
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NEGATIVE IMPACT
Constellation Energy Corporation's stock, with an RSI of 73.77, is overbought after a 9% increase over the past five days.
CEG's rapid price appreciation and high RSI indicate potential overvaluation, suggesting a possible price correction in the near term.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Korea Electric Power Corporation's stock is considered overbought with an RSI of 73.44, after gaining 7% over the past month.
An RSI above 70 often indicates that a stock may be overbought, potentially leading to a short-term price correction. KEP's recent gains and high RSI suggest it might face a pullback.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Otter Tail Corporation's stock is overbought with an RSI of 72.48, following a 10% gain over the past month.
With an RSI above 70 and a recent price jump, OTTR may experience a short-term pullback as the market corrects its overbought condition.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Vistra Corp. is overbought with an RSI of 72.90, following a 12% gain over the past month.
VST's significant price increase and its RSI value suggest the stock might be heading towards a short-term downturn due to its overbought status.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90