Top 3 Energy Stocks That Could Sink Your Portfolio In Q1
Portfolio Pulse from Avi Kapoor
As of Feb. 27, 2024, Smart Sand, Inc. (SND), Permian Resources Corporation (PR), and SFL Corporation Ltd. (SFL) are identified as overbought energy stocks with RSI values above 70, indicating potential short-term performance concerns. SND filed for a mixed shelf of up to $200 million, PR received a price target increase from Truist Securities, and SFL posted upbeat quarterly results.
February 27, 2024 | 1:21 pm
News sentiment analysis
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NEGATIVE IMPACT
Permian Resources Corporation (PR) is overbought with an RSI of 74.40 after receiving a price target increase from Truist Securities, indicating potential short-term performance concerns.
The price target increase by Truist Securities and a 12% gain over the past month have contributed to PR's overbought status, suggesting a potential pullback in the short term.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 85
NEGATIVE IMPACT
SFL Corporation Ltd. (SFL) is overbought with an RSI of 75.89 following upbeat quarterly results, raising concerns about its short-term stock performance.
The positive quarterly results and a 10% gain over the past month have pushed SFL into overbought territory, which could lead to a short-term performance correction.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Smart Sand, Inc. (SND) is overbought with an RSI of 74.49 after filing for a mixed shelf of up to $200 million, potentially impacting its short-term stock performance.
The filing for a mixed shelf of up to $200 million and the subsequent 6% gain over the past five days have likely contributed to SND's overbought status, which could lead to a short-term performance dip.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 90