Top 5 Financials Stocks That May Fall Off A Cliff This Month
Portfolio Pulse from Avi Kapoor
Five financial stocks, Columbia Banking System Inc (COLB), Hartford Financial Services Group Inc (HIG), KeyCorp (KEY), Zions Bancorporation (ZION), and Bank of Marin Bancorp (BMRC), are identified as potentially overbought with high RSI values, indicating a possible short-term price decline.
July 29, 2024 | 12:33 pm
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NEGATIVE IMPACT
Bank of Marin Bancorp (BMRC) received an Outperform rating, but its high RSI of 72.99 suggests it may be overbought. The stock gained 36% over the past month.
Despite the Outperform rating, the high RSI indicates that the stock may be overbought, suggesting a potential short-term price decline.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Columbia Banking System Inc (COLB) reported strong Q2 earnings, but its high RSI of 86.63 suggests it may be overbought. The stock gained 36% over the past month.
Despite strong earnings, the high RSI indicates that the stock may be overbought, suggesting a potential short-term price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Hartford Financial Services Group Inc (HIG) reported strong Q2 earnings, but its high RSI of 79.84 suggests it may be overbought. The stock gained 8% over the past five days.
Despite strong earnings, the high RSI indicates that the stock may be overbought, suggesting a potential short-term price decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
KeyCorp (KEY) reported strong quarterly sales, but its high RSI of 70.06 suggests it may be overbought. The stock gained 16% over the past month.
Despite strong sales, the high RSI indicates that the stock may be overbought, suggesting a potential short-term price decline.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Zions Bancorporation (ZION) reported strong Q2 results, but its high RSI of 71.11 suggests it may be overbought. The stock gained 21% over the past month.
Despite strong results, the high RSI indicates that the stock may be overbought, suggesting a potential short-term price decline.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100