Top 4 Consumer Stocks that May Keep You Up At Night This Month
Portfolio Pulse from Avi Kapoor
As of June 20, 2024, four consumer discretionary stocks—La-Z-Boy Inc (LZB), Chewy Inc (CHWY), Chipotle Mexican Grill, Inc. (CMG), and Best Buy Co Inc (BBY)—are considered overbought based on their RSI values. These stocks have shown significant price gains recently, which may concern momentum-focused investors.
June 20, 2024 | 12:34 pm
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NEUTRAL IMPACT
Best Buy Co Inc was upgraded by UBS to Buy with a raised price target. The stock jumped 27% over the past month, but an RSI of 80.02 indicates it is overbought.
The upgrade and price target increase are positive, but the high RSI suggests the stock may be overbought, indicating potential for a price correction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEUTRAL IMPACT
Chewy Inc reported strong Q1 2024 results, with a 60% stock gain over the past month. However, an RSI of 80.07 indicates the stock is overbought.
The significant price increase and high RSI suggest the stock may be overbought, potentially leading to a price pullback.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Chipotle Mexican Grill received a Buy rating from Argus Research with a raised price target. The stock gained 10% over the past five days, but an RSI of 75.97 indicates it is overbought.
The positive analyst rating and price target increase are overshadowed by the high RSI, suggesting the stock may be overbought.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEUTRAL IMPACT
La-Z-Boy Inc reported better-than-expected Q4 fiscal 2024 results, leading to a 19.4% rise in stock price. However, with an RSI of 81.68, the stock is considered overbought.
Despite strong earnings, the high RSI suggests the stock may be overbought, indicating potential for a price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100