Top 3 Tech And Telecom Stocks You May Want To Dump In June
Portfolio Pulse from Avi Kapoor
As of June 4, 2024, three stocks in the communication services sector—Take-Two Interactive Software, United States Cellular Corp, and WideOpenWest Inc—are considered overbought based on their RSI values. Investors who prioritize momentum may want to reconsider holding these stocks.
June 04, 2024 | 12:34 pm
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NEGATIVE IMPACT
Take-Two Interactive Software reported strong earnings and sales, beating analyst estimates. However, with an RSI of 78.33, the stock is considered overbought.
Despite strong earnings, the high RSI indicates that the stock may be overbought, suggesting a potential price correction in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
United States Cellular Corp announced a definitive agreement to sell its wireless operations to T-Mobile, leading to a 62% stock gain over the past month. However, with an RSI of 75.61, the stock is considered overbought.
The significant stock gain following the sale announcement has pushed the RSI into overbought territory, indicating a potential price correction.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
WideOpenWest posted better-than-expected quarterly sales, leading to a 15% stock gain over the past five days. However, with an RSI of 71.54, the stock is considered overbought.
The recent stock gain has pushed the RSI into overbought territory, suggesting a potential price correction in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100