Top 2 Consumer Stocks That May Fall Off A Cliff This Quarter
Portfolio Pulse from Avi Kapoor
As of July 24, 2024, M/I Homes Inc (NYSE:MHO) and Hovnanian Enterprises, Inc. (NYSE:HOV) are identified as overbought stocks in the consumer discretionary sector, with RSI values of 78.31 and 72.88 respectively. Despite recent gains, these stocks may face downward pressure in the short term.
July 24, 2024 | 1:14 pm
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NEGATIVE IMPACT
Hovnanian Enterprises, Inc. (NYSE:HOV) has been identified as overbought with an RSI of 72.88. Despite a recent 37% gain and an upgrade from Moody’s, the stock may face short-term downward pressure.
The RSI value of 72.88 indicates that Hovnanian Enterprises is overbought, suggesting potential short-term downward pressure despite recent gains and a credit rating upgrade.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
M/I Homes Inc (NYSE:MHO) has been identified as overbought with an RSI of 78.31. Despite a recent 26% gain and a Strong Buy rating from Raymond James, the stock may face short-term downward pressure.
The RSI value of 78.31 indicates that M/I Homes is overbought, suggesting potential short-term downward pressure despite recent gains and a positive analyst rating.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100