Top 5 Industrials Stocks That May Fall Off A Cliff This Quarter
Portfolio Pulse from Avi Kapoor
Five industrials sector stocks are identified as overbought based on their RSI values, indicating potential short-term performance concerns. Nikola Corporation, Graham Corporation, BrightView Holdings, Thermon Group Holdings, and Air Lease Corporation have all seen significant price increases recently, pushing their RSI values above the typical overbought threshold of 70. This could signal a warning to momentum investors about the possibility of a downturn.
April 01, 2024 | 12:10 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Air Lease Corporation's stock climbed 28% in a month, with an RSI of 84.53, indicating strong overbought signals.
AL's substantial price increase and very high RSI value strongly suggest an imminent price correction due to overbought conditions.
CONFIDENCE 85
IMPORTANCE 85
RELEVANCE 90
NEGATIVE IMPACT
BrightView Holdings' stock rose 37% in a month, with an RSI of 83.40, hinting at overbought conditions.
With a significant price increase and an extremely high RSI, BV is likely facing overvaluation, suggesting a potential short-term decline.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Graham Corporation's stock gained 15% over the past month, with an RSI of 78.52, signaling potential overbought status.
GHM's stock performance and high RSI value could indicate a nearing peak, suggesting a possible pullback.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Nikola Corporation's stock has surged 58% in five days, with an RSI of 77.54, indicating it may be overbought.
The significant recent price increase and high RSI value suggest that NKLA may face a short-term downturn as it enters overbought territory.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Thermon Group Holdings' stock increased 20% over the past month, with an RSI of 70.57, nearing overbought territory.
THR's recent gains and RSI just above 70 suggest it may soon face a correction as it approaches overbought levels.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 85