Top 4 Financial Stocks That Could Lead To Your Biggest Gains In Q2
Portfolio Pulse from Avi Kapoor
The article highlights four oversold financial stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are WEX Inc, Remitly Global Inc, Global Payments Inc, and StoneCo Ltd.
June 20, 2024 | 12:05 pm
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NEUTRAL IMPACT
Barclays and BMO Capital analysts lowered their price targets for Remitly Global Inc. The stock fell 12% over the past five days and has an RSI of 18.42, indicating it is oversold.
Analyst downgrades and a significant recent price drop suggest caution. However, the oversold RSI indicates potential for a rebound.
CONFIDENCE 70
IMPORTANCE 60
RELEVANCE 70
POSITIVE IMPACT
Wells Fargo initiated coverage on Global Payments with an Equal-Weight rating and a $100 price target. The stock fell 14% over the past month and has an RSI of 15.38, indicating it is oversold.
The initiation of coverage by Wells Fargo with a neutral rating and the stock's oversold status (RSI 15.38) suggest a potential buying opportunity.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
POSITIVE IMPACT
JP Morgan upgraded StoneCo from Neutral to Overweight, maintaining a $20 price target. The stock fell 11% over the past five days and has an RSI of 17.99, indicating it is oversold.
The upgrade by JP Morgan and the stock's oversold status (RSI 17.99) suggest a strong potential for a rebound.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85
POSITIVE IMPACT
WEX Inc named Sara Trickett as Chief Legal Officer and Corporate Secretary. The stock fell 13% over the past month and has an RSI of 17.26, indicating it is oversold.
The appointment of a new Chief Legal Officer is a significant corporate event. Combined with the stock's oversold status (RSI 17.26), it suggests a potential rebound.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80