Top 4 Consumer Stocks That May Plunge In Q1
Portfolio Pulse from Avi Kapoor
Four consumer discretionary stocks, Codere Online Luxembourg (CDRO), Ralph Lauren Corporation (RL), Trip.com Group Limited (TCOM), and Tapestry, Inc. (TPR), are considered overbought as of Feb. 23, 2024, based on their RSI values. These stocks have shown significant price increases recently, with CDRO planning to release financial results on Feb. 29, 2024, RL and TPR reporting better-than-expected earnings, and TCOM announcing strong Q4 results.
February 23, 2024 | 1:21 pm
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NEGATIVE IMPACT
Codere Online Luxembourg (CDRO) is considered overbought with an RSI of 89.88 and plans to release financial results on Feb. 29, 2024. The stock has gained 56% over the past five days.
The high RSI value and recent price surge suggest CDRO may face a short-term pullback, especially if the upcoming financial results do not meet investor expectations.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ralph Lauren Corporation (RL) reported Q3 earnings above expectations and anticipates revenue growth. The stock is overbought with an RSI of 85.90.
RL's overbought status and recent price increase may lead to a short-term correction, despite positive earnings and revenue growth outlook.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85
NEGATIVE IMPACT
Trip.com Group Limited (TCOM) reported better-than-expected Q4 results, with the stock gaining 10% over the past five days and an RSI of 83.99.
TCOM's overbought condition and recent gains might lead to a short-term price decline, despite the positive Q4 financial results.
CONFIDENCE 70
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Tapestry, Inc. (TPR) reported better-than-expected Q2 results and raised FY24 EPS guidance. The stock is overbought with an RSI of 79.54.
TPR's overbought status combined with its recent price increase and positive earnings outlook may result in short-term price volatility.
CONFIDENCE 70
IMPORTANCE 75
RELEVANCE 85