Top 5 Energy Stocks That May Collapse In May
Portfolio Pulse from Avi Kapoor
Five energy stocks, including NextDecade Corporation, Targa Resources Corp., Teekay Tankers Ltd., Nordic American Tankers Limited, and ProPetro Holding Corp., are showing overbought signals with RSI values above 70. This could indicate potential price declines in the short term.
May 22, 2024 | 11:51 am
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NEGATIVE IMPACT
Nordic American Tankers Limited's stock jumped 15% over the past month despite weak quarterly results. With an RSI of 73.32, it is overbought, suggesting a potential short-term price decline.
The RSI value of 73.32 indicates that the stock is overbought. Despite recent gains, the high RSI suggests a potential price decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
NextDecade Corporation's stock has gained 28% over the past month, driven by a partnership with ADNOC. However, with an RSI of 77.76, it is considered overbought, indicating potential short-term price decline.
The RSI value of 77.76 suggests that the stock is overbought. Despite recent gains from the ADNOC partnership, the high RSI indicates a potential price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
ProPetro Holding Corp. posted strong quarterly earnings, leading to a 17% gain over the past month. However, with an RSI of 71.11, it is overbought, indicating potential short-term price decline.
The RSI value of 71.11 suggests that the stock is overbought. Despite strong quarterly earnings, the high RSI indicates a potential price decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Teekay Tankers Ltd. posted strong quarterly results, leading to a 28% gain over the past month. However, with an RSI of 76.10, it is overbought, indicating potential short-term price decline.
The RSI value of 76.10 suggests that the stock is overbought. Despite strong quarterly results, the high RSI indicates a potential price decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Targa Resources Corp. posted strong Q1 sales, leading to a 4% gain over the past five days. However, with an RSI of 71.51, it is overbought, suggesting a potential short-term price decline.
The RSI value of 71.51 indicates that the stock is overbought. Despite strong Q1 sales, the high RSI suggests a potential price decline.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80