Top 3 Materials Stocks That May Implode This Month
Portfolio Pulse from Avi Kapoor
As of July 19, 2024, three materials sector stocks—Sherwin-Williams Co (SHW), SunCoke Energy Inc (SXC), and James Hardie Industries plc (JHX)—are considered overbought based on their RSI values. Investors should be cautious as these stocks may face downward pressure in the short term.
July 19, 2024 | 11:51 am
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NEGATIVE IMPACT
James Hardie Industries plc (JHX) is overbought with an RSI of 70.37. Despite recent gains, the stock may face short-term downward pressure due to its overbought status.
James Hardie Industries has gained 13% over the past month, but its RSI of 70.37 indicates it is overbought. This could lead to short-term selling pressure.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Sherwin-Williams Co (SHW) is considered overbought with an RSI of 70.23. Despite declaring a dividend and recent gains, the stock may face short-term downward pressure.
Sherwin-Williams has seen an 8% gain over the past month and declared a dividend, but its RSI of 70.23 indicates it is overbought. This could lead to short-term selling pressure.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
SunCoke Energy Inc (SXC) is overbought with an RSI of 70.69. The stock has gained 13% over the past month and will release its Q2 financial results on July 31, which could impact its price.
SunCoke Energy's 13% gain over the past month and an RSI of 70.69 suggest it is overbought. Upcoming Q2 results could further influence its stock price, potentially leading to a short-term decline.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100