Top 3 Industrials Stocks That Could Sink Your Portfolio This Month
Portfolio Pulse from Avi Kapoor
Three industrial stocks, Gates Industrial Corporation (GTES), Fluor Corp (FLR), and A. O. Smith Corp (AOS), are currently overbought according to their RSI values. Investors should be cautious as these stocks have shown significant recent gains and may face short-term price corrections.
July 17, 2024 | 1:06 pm
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NEGATIVE IMPACT
A. O. Smith Corp (AOS) is overbought with an RSI of 76.88. The stock has gained 13% over the past five days and is near its 52-week high. The recent acquisition of Pureit may support long-term growth, but short-term price correction is possible.
The high RSI value indicates that AOS is overbought, suggesting a potential price correction. The recent acquisition of Pureit may support long-term growth, but short-term volatility is likely.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Fluor Corp (FLR) is overbought with an RSI of 80.06. The stock has gained 14% over the past five days and is close to its 52-week high. Despite a recent price target increase by Truist Securities, investors should be cautious of a potential pullback.
The high RSI value indicates that FLR is overbought, suggesting a potential price correction. The recent price target increase may not be enough to sustain the current momentum.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Gates Industrial Corporation (GTES) is overbought with an RSI of 74.86. The stock has gained 12% over the past five days and is nearing its 52-week high. Investors should be cautious ahead of its Q2 earnings release on July 31.
The high RSI value indicates that GTES is overbought, suggesting a potential price correction. The upcoming earnings release adds uncertainty, which could lead to short-term volatility.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100