Top 4 Materials Stocks You May Want To Dump In Q2
Portfolio Pulse from Avi Kapoor
As of May 30, 2024, four materials sector stocks—Nexa Resources S.A. (NEXA), International Paper Company (IP), Carpenter Technology Corporation (CRS), and Clearwater Paper Corporation (CLW)—are considered overbought based on their RSI values. Investors who prioritize momentum may want to reconsider their positions in these stocks.
May 30, 2024 | 12:40 pm
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NEGATIVE IMPACT
Clearwater Paper Corporation (CLW) has an RSI of 71.66, indicating it is overbought. Despite better-than-expected EPS results and a 16% gain over the past month, the stock may face downward pressure.
The RSI value of 71.66 suggests that CLW is overbought. Despite recent gains and strong EPS results, the stock may face selling pressure as investors look to take profits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Carpenter Technology Corporation (CRS) has an RSI of 72.53, indicating it is overbought. Despite mixed financial results and a 30% gain over the past month, the stock may face downward pressure.
The RSI value of 72.53 suggests that CRS is overbought. Despite recent gains and mixed financial results, the stock may face selling pressure as investors look to take profits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
International Paper Company (IP) has an RSI of 70.02, indicating it is overbought. Despite a recent upgrade and a 27% gain over the past month, the stock may face downward pressure.
The RSI value of 70.02 suggests that IP is overbought. Despite a recent upgrade and significant gains, the stock may face selling pressure as investors look to take profits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Nexa Resources S.A. (NEXA) has an RSI of 72.30, indicating it is overbought. Despite better-than-expected quarterly sales and a 9% gain over the past month, the stock may face downward pressure.
The RSI value of 72.30 suggests that NEXA is overbought. Despite recent gains and positive quarterly sales, the stock may face selling pressure as investors look to take profits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100