Top 2 Utilities Stocks That May Implode In Q3
Portfolio Pulse from Avi Kapoor
Two utility stocks, Sunnova Energy International Inc (NOVA) and FirstEnergy Corp (FE), are currently overbought according to their RSI values, indicating potential short-term price corrections. Analysts have adjusted their price targets for both stocks, with NOVA's target raised to $13 and FE's to $45.
August 21, 2024 | 1:05 pm
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NEGATIVE IMPACT
FirstEnergy Corp (FE) is overbought with an RSI of 74.15. Scotiabank raised its price target to $45. The stock has gained 9% over the past month, indicating a potential short-term correction.
FE's RSI suggests it is overbought, which could lead to a short-term price correction. Despite the price target increase to $45 by Scotiabank, the high RSI value indicates potential downside risk.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100
NEGATIVE IMPACT
Sunnova Energy International Inc (NOVA) is overbought with an RSI of 70.07. Morgan Stanley raised its price target to $13. The stock has gained 21% in the past five days, suggesting a potential short-term correction.
NOVA's RSI indicates it is overbought, suggesting a potential price correction. The recent price target increase to $13 by Morgan Stanley may not prevent a short-term decline due to the high RSI.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100