Top 3 Energy Stocks That May Fall Off A Cliff In Q2
Portfolio Pulse from Avi Kapoor
Three energy stocks, StealthGas Inc (GASS), Hallador Energy Co (HNRG), and Overseas Shipholding Group Inc. (OSG), are showing overbought signals with high RSI values, indicating potential short-term declines. Despite recent gains, investors should be cautious.
June 07, 2024 | 12:04 pm
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NEGATIVE IMPACT
StealthGas Inc (GASS) has shown strong performance with record-breaking quarterly profits and a 29% stock gain over the past month. However, with an RSI of 73.70, the stock is considered overbought, indicating a potential short-term decline.
The high RSI value suggests that the stock is overbought, which typically precedes a price correction. Despite strong earnings, the momentum may not sustain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Hallador Energy Co (HNRG) reported strong first-quarter results and a 61% stock gain over the past month. With an RSI of 75.62, the stock is overbought, indicating a potential short-term decline.
The high RSI value suggests that the stock is overbought, which typically precedes a price correction. Despite strong earnings, the momentum may not sustain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Overseas Shipholding Group Inc. (OSG) announced a merger agreement and saw a 34% stock gain over the past month. With an RSI of 80.46, the stock is overbought, indicating a potential short-term decline.
The high RSI value suggests that the stock is overbought, which typically precedes a price correction. Despite the merger news, the momentum may not sustain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100