Top 3 Industrial Stocks That May Collapse This Quarter
Portfolio Pulse from Avi Kapoor
Three industrial stocks, American Woodmark Corporation (AMWD), Tutor Perini Corporation (TPC), and Sterling Infrastructure, Inc. (STRL), are considered overbought as of March 1, 2024, based on their RSI values. AMWD reported strong Q3 earnings but saw a slight stock decline, TPC showed revenue growth and a significant stock increase, and STRL reported record earnings with a modest stock gain.
March 01, 2024 | 1:37 pm
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NEGATIVE IMPACT
American Woodmark's strong Q3 earnings report and a 6% stock gain over the past five days, despite a slight decline to close at $100.24. RSI at 73.81 indicates overbought status.
Despite positive earnings, AMWD's overbought status (RSI > 70) suggests potential short-term price decline.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Sterling Infrastructure reported record earnings and a 25% stock gain over the past five days, closing at $106.64. RSI at 82.86 indicates overbought status.
STRL's strong earnings and stock performance, coupled with a high RSI, suggest a potential short-term pullback.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Tutor Perini reported a slight revenue increase for 2023 and a substantial stock gain of 22.6% to close at $11.33. RSI at 78.65 indicates overbought status.
TPC's significant stock price increase and overbought RSI suggest a potential short-term correction.
CONFIDENCE 75
IMPORTANCE 80
RELEVANCE 90