Top 5 Tech And Telecom Stocks That May Fall Off A Cliff In Q2
Portfolio Pulse from Avi Kapoor
Five tech and telecom stocks in the communication services sector, including Bilibili Inc. (BILI), Sea Limited (SE), Bumble Inc. (BMBL), Pinterest, Inc. (PINS), and Tencent Music Entertainment Group (TME), are showing overbought signals with RSI values above 70. These stocks have seen significant price increases recently, which may indicate a potential short-term decline.
May 17, 2024 | 12:29 pm
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NEGATIVE IMPACT
Bilibili Inc. (BILI) has an RSI of 73.14, indicating it is overbought. The stock has gained around 48% over the past month and is expected to report Q1 2024 results on May 23.
The high RSI value suggests that BILI is overbought, which could lead to a short-term price decline. The upcoming earnings report adds uncertainty.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Bumble Inc. (BMBL) has an RSI of 73.59, indicating it is overbought. The stock has gained around 20% over the past month after reporting better-than-expected Q1 results.
The high RSI value suggests that BMBL is overbought, which could lead to a short-term price decline despite strong Q1 results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Pinterest, Inc. (PINS) has an RSI of 77.03, indicating it is overbought. The stock has gained around 31% over the past month after reporting strong Q1 results.
The high RSI value suggests that PINS is overbought, which could lead to a short-term price decline despite strong Q1 results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Sea Limited (SE) has an RSI of 74.45, indicating it is overbought. The stock has gained around 28% over the past month after reporting strong Q1 2024 results.
The high RSI value suggests that SE is overbought, which could lead to a short-term price decline despite strong Q1 results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tencent Music Entertainment Group (TME) has an RSI of 80.37, indicating it is overbought. The stock has gained around 16% over the past five days after reporting strong Q1 results.
The high RSI value suggests that TME is overbought, which could lead to a short-term price decline despite strong Q1 results.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100