Top 3 Industrials Stocks That May Rocket Higher in Q2
Portfolio Pulse from Avi Kapoor
The article highlights three industrial stocks that are currently oversold and may present buying opportunities: American Woodmark Corporation (AMWD), Atkore Inc (ATKR), and Corecivic Inc (CXW). These stocks have RSI values below 30, indicating potential undervaluation.
June 24, 2024 | 12:21 pm
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American Woodmark Corporation (AMWD) posted downbeat quarterly earnings, leading to a 15% drop in stock price over the past month. However, the stock gained 1.1% recently, closing at $79.75.
Despite recent poor earnings, the RSI value of 28.69 indicates that AMWD is oversold, suggesting a potential buying opportunity. The recent 1.1% gain could be an early sign of recovery.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
POSITIVE IMPACT
Atkore Inc (ATKR) reported worse-than-expected Q2 sales and cut its FY24 EPS guidance, causing a 13% drop in stock price over the past month. The stock rose 0.2% recently, closing at $134.49.
The RSI value of 28.53 indicates that ATKR is oversold, suggesting a potential buying opportunity despite recent poor performance. The recent 0.2% gain could indicate a stabilization.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Corecivic Inc (CXW) received a termination notice from U.S. Immigration and Customs Enforcement, leading to a 27% drop in stock price over the past month. The stock rose 0.4% recently, closing at $11.37.
The RSI value of 23.69 indicates that CXW is significantly oversold, suggesting a potential buying opportunity despite the negative news. The recent 0.4% gain could be an early sign of recovery.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100