Top 5 Defensive Stocks That May Keep You Up At Night In Q2
Portfolio Pulse from Avi Kapoor
As of May 21, 2024, five consumer staples stocks are showing overbought signals based on their RSI values. These stocks include Costco Wholesale Corporation, Celsius Holdings, Vital Farms, Mama’s Creations, and Webuy Global. Investors should be cautious as these stocks have shown significant price increases recently, which may indicate potential short-term volatility.
May 21, 2024 | 11:59 am
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NEGATIVE IMPACT
Celsius Holdings reported worse-than-expected Q1 sales results but saw its stock gain around 38% over the past month. The RSI value is 75.39, indicating it is overbought.
Despite missing Q1 sales estimates, the stock's significant price increase and high RSI value suggest it is overbought and may face a short-term correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Costco Wholesale Corporation reported April sales of $19.80 billion, with its stock gaining around 11% over the past month. The RSI value is 70.76, indicating it is overbought.
The RSI value of 70.76 indicates that Costco's stock is overbought, which may lead to a short-term price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Mama’s Creations reported better-than-expected Q4 results, with its stock jumping around 36% over the past month. The RSI value is 71.18, indicating it is overbought.
The RSI value of 71.18 indicates that Mama’s Creations' stock is overbought, which may lead to a short-term price correction despite strong Q4 results.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Vital Farms reported strong Q1 sales and issued positive FY24 revenue guidance. The stock gained around 54% over the past month. The RSI value is 81.27, indicating it is overbought.
The high RSI value of 81.27 indicates that Vital Farms' stock is overbought, which may lead to a short-term price correction despite strong sales performance.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Webuy Global announced the launch of its travel business in Indonesia, with its stock jumping around 110% over the past month. The RSI value is 82.37, indicating it is overbought.
The high RSI value of 82.37 indicates that Webuy Global's stock is overbought, which may lead to a short-term price correction despite the new business launch.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80