Top 2 Utilities Stocks That Should Keep You Up At Night In Q3
Portfolio Pulse from Avi Kapoor
As of August 6, 2024, WEC Energy Group Inc (NYSE:WEC) and Consolidated Edison, Inc. (NYSE:ED) are identified as overbought stocks in the utilities sector, with RSI values above 70. Both companies recently posted better-than-expected quarterly earnings but saw a decline in their stock prices.
August 06, 2024 | 11:08 am
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Consolidated Edison Inc posted stronger-than-expected quarterly results but is considered overbought with an RSI of 71.14. The stock gained 14% over the past month but fell 1.1% to close at $100.70 on Monday.
Consolidated Edison's RSI indicates it is overbought, suggesting a potential short-term price decline despite strong earnings. The recent 1.1% drop supports this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
WEC Energy Group Inc posted better-than-expected quarterly earnings but is considered overbought with an RSI of 70.14. The stock gained 13% over the past month but fell 2.2% to close at $88.19 on Monday.
WEC Energy Group's RSI indicates it is overbought, suggesting a potential short-term price decline despite strong earnings. The recent 2.2% drop supports this outlook.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100