Top 2 Consumer Stocks You May Want To Dump In Q3
Portfolio Pulse from Avi Kapoor
As of August 8, 2024, VF Corp (NYSE:VFC) and Revolve Group Inc (NYSE:RVLV) are considered overbought with RSI values above 70. Despite reporting better-than-expected financial results, their recent stock price surges and high RSI values suggest potential short-term price corrections.
August 08, 2024 | 12:08 pm
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NEGATIVE IMPACT
Revolve Group Inc (NYSE:RVLV) reported strong Q2 results with a return to top-line growth and improved marketing efficiency. However, with an RSI of 73.15 and a 54% stock gain over the past month, the stock is considered overbought, indicating a potential short-term price correction.
The RSI value of 73.15 indicates that RVLV is overbought. Despite positive financial results, the significant recent price increase suggests a potential short-term correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
VF Corp (NYSE:VFC) reported better-than-expected Q1 results and announced the sale of Supreme. However, with an RSI of 70.21 and a 31% stock gain over the past month, the stock is considered overbought, indicating a potential short-term price correction.
The RSI value of 70.21 indicates that VFC is overbought. Despite positive financial results, the significant recent price increase suggests a potential short-term correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100