Top 3 Industrials Stocks That May Implode In Q3
Portfolio Pulse from Avi Kapoor
Three industrial stocks, Heico Corp (HEI), Civeo Corp (CVEO), and Axon Enterprise Inc (AXON), are showing overbought signals with RSI values above 70. Investors should be cautious as these stocks may face downward pressure in the short term.
August 15, 2024 | 12:31 pm
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NEGATIVE IMPACT
Axon Enterprise Inc (AXON) is overbought with an RSI of 74.75. The stock has gained 20% over the past month and recently reported better-than-expected Q2 results, raising its FY24 revenue guidance.
The RSI value of 74.75 indicates that AXON is overbought, suggesting potential downward pressure. Despite strong Q2 results and raised FY24 guidance, the stock may face short-term volatility.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Civeo Corp (CVEO) is overbought with an RSI of 75.08. The stock has gained 16% over the past month and recently amended its credit agreement, increasing its revolving credit facility.
The RSI value of 75.08 indicates that CVEO is overbought, suggesting potential downward pressure. The recent credit agreement amendment could also influence investor sentiment.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Heico Corp (HEI) is overbought with an RSI of 71.40. The stock has gained 5% over the past month and will release its Q3 financial results on Aug. 26.
The RSI value of 71.40 indicates that HEI is overbought, suggesting potential downward pressure. Upcoming Q3 financial results could further impact the stock price.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80