Top 5 Materials Stocks That Could Blast Off In June
Portfolio Pulse from Avi Kapoor
The article highlights five oversold stocks in the materials sector with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are Steel Dynamics Inc (STLD), Cleveland-Cliffs Inc (CLF), O-I Glass Inc (OI), Ternium SA (TX), and Sherwin-Williams Co (SHW).
June 10, 2024 | 11:55 am
News sentiment analysis
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NEGATIVE IMPACT
Cleveland-Cliffs Inc (CLF) was downgraded from 'Buy' to 'Sell' by GLJ Research with a price target of $10.13. The stock fell 8% over the past five days and has an RSI of 24.88.
The downgrade to 'Sell' and significant price drop indicate bearish sentiment, despite the oversold RSI.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEUTRAL IMPACT
O-I Glass Inc (OI) announced pricing of senior notes offering. The stock fell 12% over the past month and has an RSI of 29.91.
The senior notes offering and recent price drop suggest mixed sentiment. The RSI indicates potential for a rebound.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
Sherwin-Williams Co (SHW) reported Q1 earnings below expectations and increased its dividend by 18.2%. The stock fell 9% over the past month and has an RSI of 26.40.
The earnings miss and dividend increase present mixed signals. The RSI indicates potential for a rebound.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Steel Dynamics Inc (STLD) has been rated 'Hold' by Jefferies with a price target of $150. The stock fell 6% over the past five days and has an RSI of 29.89.
The 'Hold' rating and recent price drop suggest potential for a rebound, especially with an RSI indicating oversold conditions.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Ternium SA (TX) maintained 'Overweight' by JP Morgan with a price target raised to $56. The stock fell 9% over the past five days and has an RSI of 25.35.
The 'Overweight' rating and raised price target suggest potential for a rebound, supported by the oversold RSI.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100