Top 2 Risk Off Stocks You May Want To Dump In Q2
Portfolio Pulse from Avi Kapoor
As of April 23, 2024, Moolec Science SA (MLEC) and Yatsen Holding Limited (YSG) are identified as overbought stocks in the consumer staples sector, with RSI values of 71.26 and 79.76 respectively. MLEC received USDA-APHIS approval for its GE soybean, leading to a 106% stock increase over five days. YSG regained NYSE compliance, with its stock up 83% over the past month.
April 23, 2024 | 11:49 am
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NEGATIVE IMPACT
Moolec Science SA received USDA-APHIS approval for its GE soybean, leading to a significant stock price increase. The stock is currently overbought with an RSI of 71.26.
The sharp increase in MLEC's stock price following the USDA-APHIS approval may lead to short-term price correction due to its overbought status, indicated by an RSI above 70.
CONFIDENCE 85
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Yatsen Holding Limited regained NYSE compliance, contributing to an 83% stock increase over the past month. The stock is overbought with an RSI of 79.76.
YSG's recent compliance with NYSE minimum price criteria and subsequent stock rally has pushed it into overbought territory, suggesting potential for a short-term pullback.
CONFIDENCE 85
IMPORTANCE 80
RELEVANCE 100