Top 3 Industrials Stocks That Are Ticking Portfolio Bombs
Portfolio Pulse from Avi Kapoor
As of July 5, 2024, three industrial stocks—American Superconductor Corporation (AMSC), Wheels Up Experience Inc (UP), and Ads-Tec Energy PLC (ADSE)—are considered overbought based on their RSI values. These stocks have shown significant recent gains, but their high RSI values suggest potential caution for momentum investors.
July 05, 2024 | 3:01 pm
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NEGATIVE IMPACT
Ads-Tec Energy PLC (ADSE) has an RSI of 72.09, indicating it is overbought. The stock recently fell 2.8% to close at $12.43, despite a recent partnership extension announcement.
The high RSI value of 72.09 indicates that ADSE is overbought, which could lead to a short-term price correction. Despite the partnership extension news, the overbought condition and recent price drop suggest caution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
American Superconductor Corporation (AMSC) has an RSI of 72.11, indicating it is overbought. The stock recently gained 7.7% to close at $25.95, and Roth MKM raised its price target to $27.
The high RSI value of 72.11 indicates that AMSC is overbought, which could lead to a short-term price correction. Despite the positive analyst rating and recent gains, the overbought condition suggests caution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Wheels Up Experience Inc (UP) has an RSI of 73.46, indicating it is overbought. The stock recently climbed 7.3% to close at $3.24, following a strong operational performance report.
The high RSI value of 73.46 indicates that UP is overbought, which could lead to a short-term price correction. Despite the strong operational performance, the overbought condition suggests caution.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100