Top 4 Consumer Stocks That May Implode In Q2
Portfolio Pulse from Avi Kapoor
Four consumer discretionary stocks, Stitch Fix (SFIX), TJX Companies (TJX), Boot Barn Holdings (BOOT), and Chewy (CHWY), are currently overbought according to their RSI values. Despite recent positive financial results, these stocks may face short-term price corrections.
June 05, 2024 | 12:20 pm
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NEGATIVE IMPACT
Boot Barn Holdings (BOOT) posted strong Q4 results but issued a soft FY24 forecast. The stock gained 17% over the past five days, but with an RSI of 78.17, it is overbought and may face a short-term correction.
The RSI value of 78.17 indicates that BOOT is overbought. Despite recent gains from positive earnings, the stock is likely to face a short-term price correction.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Chewy (CHWY) reported strong Q1 results and announced a $500 million share repurchase program. The stock jumped 39% over the past month, but with an RSI of 75.33, it is overbought and may face a short-term correction.
The RSI value of 75.33 indicates that CHWY is overbought. Despite recent gains from positive earnings and a share repurchase program, the stock is likely to face a short-term price correction.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
Stitch Fix (SFIX) posted better-than-expected Q3 results, leading to an 18% stock gain over the past five days. However, with an RSI of 75.18, the stock is overbought and may face a short-term correction.
The RSI value of 75.18 indicates that SFIX is overbought. Despite recent gains from positive earnings, the stock is likely to face a short-term price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
TJX Companies (TJX) reported strong Q1 results, leading to a 9% stock gain over the past month. However, with an RSI of 74.19, the stock is overbought and may face a short-term correction.
The RSI value of 74.19 indicates that TJX is overbought. Despite recent gains from positive earnings, the stock is likely to face a short-term price correction.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100