Top 3 Tech And Telecom Stocks That Are Set To Fly In July
Portfolio Pulse from Avi Kapoor
The article highlights three oversold stocks in the communication services sector: Walt Disney Co (DIS), iQIYI Inc (IQ), and Kanzhun Ltd (BZ). These stocks have RSI values near or below 30, indicating potential undervaluation. Disney faces antitrust concerns in India, iQIYI was downgraded by HSBC, and Kanzhun posted strong quarterly results but saw a stock dip.
July 24, 2024 | 11:50 am
News sentiment analysis
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NEGATIVE IMPACT
Disney's stock fell 11% over the past month due to antitrust concerns in India regarding its $8.5 billion merger with Reliance Industries. The RSI value is 20.76, indicating it is oversold.
The antitrust concerns in India are significant and have already led to a notable decline in Disney's stock price. The low RSI suggests it is oversold, but the regulatory issues could continue to weigh on the stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
iQIYI was downgraded by HSBC from Hold to Reduce, with a price target lowered from $4.7 to $3. The stock fell 15% over the past five days, with an RSI of 26.29.
The downgrade by HSBC and the significant drop in stock price indicate negative sentiment. The low RSI suggests it is oversold, but the downgrade could lead to further short-term declines.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
POSITIVE IMPACT
Kanzhun posted strong quarterly results but saw its stock dip 22% over the past month. The RSI value is 24.19, indicating it is oversold.
Despite the recent stock dip, Kanzhun's strong quarterly results and low RSI suggest potential for a rebound. The positive financial performance could attract investors looking for undervalued opportunities.
CONFIDENCE 80
IMPORTANCE 60
RELEVANCE 100