Top 3 Tech Stocks That May Fall Off A Cliff This Month
Portfolio Pulse from Avi Kapoor
Three tech stocks, NVIDIA Corp (NVDA), Hewlett Packard Enterprise Co (HPE), and Apple Inc (AAPL), are currently overbought according to their RSI values, indicating potential short-term declines. Despite recent gains and positive analyst ratings, their high RSI values suggest caution for momentum investors.
June 13, 2024 | 12:58 pm
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NEGATIVE IMPACT
Apple Inc (AAPL) has an RSI value of 79.40, indicating it is overbought. Despite recent upgrades and a 9% gain over the past five days, the high RSI suggests a potential short-term decline.
The high RSI value of 79.40 indicates that Apple is overbought, which often precedes a price correction. Despite positive upgrades and recent gains, the stock may face short-term downward pressure.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Hewlett Packard Enterprise Co (HPE) has an RSI value of 76.73, indicating it is overbought. Despite strong Q2 results and a 20% gain over the past month, the high RSI suggests a potential short-term decline.
The high RSI value of 76.73 indicates that HPE is overbought, which often leads to a price correction. Despite strong financial results, the stock may face short-term downward pressure.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
NVIDIA Corp (NVDA) has an RSI value of 78.62, indicating it is overbought. Despite a recent price target increase by Evercore ISI Group and a 39% gain over the past month, the high RSI suggests a potential short-term decline.
The high RSI value of 78.62 indicates that NVIDIA is overbought, which often precedes a price correction. Despite positive analyst ratings and recent gains, the momentum may not sustain in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100