Top 5 Financials Stocks That May Collapse This Month
Portfolio Pulse from Avi Kapoor
Five financial stocks, Root Inc (ROOT), Bank of New York Mellon Corp (BK), Credit Acceptance Corp. (CACC), Northern Trust Corp (NTRS), and Heartland Financial USA Inc (HTLF), are identified as overbought with high RSI values, indicating potential short-term price declines.
July 15, 2024 | 11:42 am
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NEGATIVE IMPACT
Bank of New York Mellon Corp (BK) has an RSI of 77.99, indicating it is overbought. The stock gained 7% over the past five days and closed at $64.69.
The high RSI value suggests that BK is overbought, which typically precedes a price decline. The recent price increase further supports this potential correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Credit Acceptance Corp (CACC) has an RSI of 82.70, indicating it is overbought. The stock gained 21% over the past month and closed at $576.77.
The high RSI value suggests that CACC is overbought, which typically precedes a price decline. The recent significant price increase further supports this potential correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Heartland Financial USA Inc (HTLF) has an RSI of 72.40, indicating it is overbought. The stock gained 10% over the past five days and closed at $48.17.
The high RSI value suggests that HTLF is overbought, which typically precedes a price decline. The recent price increase further supports this potential correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Northern Trust Corp (NTRS) has an RSI of 70.43, indicating it is overbought. The stock gained 7% over the past five days and closed at $89.28.
The high RSI value suggests that NTRS is overbought, which typically precedes a price decline. The recent price increase further supports this potential correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Root Inc (ROOT) has an RSI of 71.12, indicating it is overbought. The stock gained 57% over the past month and closed at $69.41.
The high RSI value suggests that ROOT is overbought, which typically precedes a price decline. The recent significant price increase further supports this potential correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100