Top 3 Tech And Telecom Stocks You May Want To Dump In February
Portfolio Pulse from Avi Kapoor
As of Feb. 22, 2024, MediaAlpha, Inc. (MAX), IAC Inc. (IAC), and Angi Inc. (ANGI) are identified as overbought in the tech and telecom sector based on their RSI values, indicating potential short-term performance concerns. MediaAlpha's recent financial results exceeded expectations, particularly in the P&C insurance vertical, leading to a significant stock price increase. IAC reported a profit for its fourth quarter, and Angi also reported better-than-expected EPS results for the same period.
February 22, 2024 | 1:42 pm
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NEGATIVE IMPACT
Angi Inc. reported better-than-expected Q4 EPS results, with a 20% stock increase over the past five days, reaching a 52-week high of $4.18.
Angi's stock performance, driven by positive Q4 EPS results and an RSI of 75.32, suggests it is overbought. This condition may lead to a short-term decrease in stock price.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
IAC Inc. reported a profit for Q4, leading to an 11% stock increase over the past month, with a 52-week high of $69.85. The stock closed at $57.25 recently.
IAC's recent profit announcement and subsequent stock rise, combined with an RSI of 71.23, indicate the stock may be overbought, potentially leading to short-term price adjustments.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
MediaAlpha's stock has seen a significant rise, with a 35% increase over the past five days, reaching a 52-week high of $20.01, driven by better-than-expected Q4 results.
The substantial increase in MediaAlpha's stock price, coupled with an RSI value of 85.11, suggests the stock is overbought. This could lead to short-term volatility or a price correction.
CONFIDENCE 80
IMPORTANCE 90
RELEVANCE 100