Top 5 Risk Off Stocks That May Plunge This Quarter
Portfolio Pulse from Avi Kapoor
As of March 11, 2024, five consumer staples stocks are considered overbought based on their RSI values, indicating potential short-term declines. These include Vintage Wine Estates, Vital Farms, Sprouts Farmers Market, Colgate-Palmolive, and Target Corporation, each showing significant recent gains but now flashing warning signals to momentum investors.
March 11, 2024 | 12:43 pm
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NEGATIVE IMPACT
Colgate-Palmolive's RSI of 74.69 post positive Q4 results and a 5% monthly gain suggests a potential short-term pullback.
The combination of strong quarterly results and a high RSI indicates that CL might see a short-term price adjustment.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Sprouts Farmers Market's RSI of 81.50 after a 21% monthly increase could lead to a short-term price decline.
With an RSI significantly above the overbought threshold, SFM's recent gains may be subject to a short-term pullback.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Target's RSI of 70.39 following a 10% five-day gain and Q4 revenue growth suggests a near-term price correction.
Target's recent performance and slightly overbought RSI level could lead to a short-term price correction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Vital Farms' RSI of 78.60 after a 33% monthly gain and positive financial outlook may indicate a short-term price adjustment.
VITL's strong performance and optimistic revenue guidance have pushed its RSI to an overbought level, suggesting a possible short-term retracement.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
Vintage Wine Estates shows a high RSI of 73.81 after a 25% gain in 5 days, signaling potential short-term decline.
The high RSI value following a significant price gain suggests VWE may be overbought, leading to a potential short-term price correction.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90