Top 5 Financial Stocks You May Want To Dump In Q2
Portfolio Pulse from Avi Kapoor
As of May 23, 2024, five financial stocks are considered overbought based on their RSI values, indicating potential short-term price declines. These stocks include Aegon Ltd. (AEG), Brown & Brown, Inc. (BRO), Arthur J. Gallagher & Co. (AJG), Hamilton Insurance Group, Ltd. (HG), and Moody’s Corporation (MCO).
May 23, 2024 | 11:57 am
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NEGATIVE IMPACT
Aegon Ltd. (NYSE:AEG) has an RSI of 73.01, indicating it is overbought. Despite a recent share buyback program and a 10% gain over the past month, the stock fell 1.2% to $6.79.
The high RSI value suggests that Aegon Ltd. is overbought, which typically precedes a price decline. The recent drop in stock price supports this analysis.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Arthur J. Gallagher & Co. (NYSE:AJG) has an RSI of 73.11, indicating it is overbought. Despite mixed Q1 results and an 8% gain over the past month, the stock fell 0.1% to $257.65.
The high RSI value suggests that Arthur J. Gallagher & Co. is overbought, which typically precedes a price decline. The recent slight drop in stock price supports this analysis.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Brown & Brown, Inc. (NYSE:BRO) has an RSI of 81.26, indicating it is significantly overbought. Despite strong Q1 results and a 10% gain over the past month, the stock rose 1.5% to $91.16.
The extremely high RSI value suggests that Brown & Brown, Inc. is overbought, which typically precedes a price decline. The recent price increase may not be sustainable.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Hamilton Insurance Group, Ltd. (NYSE:HG) has an RSI of 73.14, indicating it is overbought. Despite strong Q1 results and a 20% gain over the past month, the stock rose 1.2% to $16.84.
The high RSI value suggests that Hamilton Insurance Group, Ltd. is overbought, which typically precedes a price decline. The recent price increase may not be sustainable.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Moody’s Corporation (NYSE:MCO) has an RSI of 73.02, indicating it is overbought. Despite strong Q1 results and a 9% gain over the past month, the stock rose 0.5% to $415.09.
The high RSI value suggests that Moody’s Corporation is overbought, which typically precedes a price decline. The recent price increase may not be sustainable.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100