Top 2 Tech And Telecom Stocks That May Crash In August
Portfolio Pulse from Avi Kapoor
As of August 7, 2024, two stocks in the communication services sector, Marchex Inc (NASDAQ:MCHX) and Lumen Technologies Inc (NYSE:LUMN), are considered overbought based on their RSI values. Marchex's RSI is 73.19, and its stock has gained 31% over the past month. Lumen Technologies has an RSI of 89.54, with its stock surging 372% over the past month. Both stocks may face downward pressure in the short term due to their overbought status.
August 07, 2024 | 12:31 pm
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NEGATIVE IMPACT
Lumen Technologies Inc (NYSE:LUMN) is highly overbought with an RSI of 89.54. Despite reporting quarterly losses, the stock surged 372% over the past month, indicating potential short-term downward pressure.
Lumen Technologies' RSI of 89.54 indicates extreme overbought conditions. The stock's 372% gain over the past month, despite reporting losses, suggests it may face a correction.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Marchex Inc (NASDAQ:MCHX) is considered overbought with an RSI of 73.19. The stock has gained 31% over the past month and is likely to face downward pressure in the short term.
Marchex's RSI of 73.19 indicates it is overbought. The stock's recent 31% gain suggests it may be due for a correction, especially with upcoming financial results.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80