Top 3 Financials Stocks That Could Blast Off In Q3
Portfolio Pulse from Avi Kapoor
The article highlights three oversold financial stocks with RSI values near or below 30, indicating potential buying opportunities. The stocks mentioned are Charles Schwab Corporation (SCHW), DigiAsia Corp (FAAS), and LPL Financial Holdings Inc (LPLA).
July 17, 2024 | 12:06 pm
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POSITIVE IMPACT
DigiAsia's subsidiary secured 5,120 NVIDIA H200 GPUs for AI development. Despite this, the stock fell 57% over the past month to $3.30, with an RSI of 27.25, indicating it is oversold.
Despite securing significant resources for AI development, the stock's substantial decline and low RSI suggest it is oversold and may be undervalued.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
JP Morgan analyst maintained a Neutral rating on LPL Financial and raised the price target to $268. The stock dipped 12% over the past five days to $239.63, with an RSI of 19.18, indicating it is oversold.
The analyst's maintained rating and raised price target, combined with the stock's recent decline and low RSI, suggest that LPLA is oversold and may present a buying opportunity.
CONFIDENCE 88
IMPORTANCE 75
RELEVANCE 100
POSITIVE IMPACT
Charles Schwab reported a 2% Y/Y decline in adjusted net income for Q2 2024. Despite strong client interest in wealth solutions, the stock fell 10.2% to $67.43, with an RSI of 28.00, indicating it is oversold.
The decline in net income and recent stock price drop, combined with an RSI of 28.00, suggest that SCHW is oversold and may present a buying opportunity.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100