Top 3 Consumer Stocks That May Collapse In May
Portfolio Pulse from Avi Kapoor
Three consumer discretionary stocks, SharkNinja (SN), Tractor Supply Company (TSCO), and Brinker International (EAT), are identified as overbought with high RSI values, indicating potential short-term price declines. Despite recent gains, investors should be cautious.
May 20, 2024 | 12:25 pm
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NEGATIVE IMPACT
Brinker International's stock has gained around 35% over the past month and has an RSI of 80.29, indicating it is overbought. Despite raising its FY24 EPS outlook, the high RSI suggests a potential short-term price decline.
The high RSI value of 80.29 indicates that Brinker's stock is overbought. Despite raising its FY24 EPS outlook, the momentum indicator suggests a potential short-term price decline.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
SharkNinja's stock has gained around 20% over the past month and has an RSI of 82.70, indicating it is overbought. Despite strong Q1 results and raised FY24 guidance, the high RSI suggests a potential short-term price decline.
The high RSI value of 82.70 indicates that SharkNinja's stock is overbought. Despite positive financial results and raised guidance, the momentum indicator suggests a potential short-term price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Tractor Supply Company's stock has gained around 13% over the past month and has an RSI of 74.14, indicating it is overbought. The recent partnership with Expion360 may not be enough to sustain the momentum, suggesting a potential short-term price decline.
The high RSI value of 74.14 indicates that Tractor Supply Company's stock is overbought. Despite the new partnership with Expion360, the momentum indicator suggests a potential short-term price decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100