Top 2 Consumer Stocks That Could Sink Your Portfolio In August
Portfolio Pulse from Avi Kapoor
CAVA Group Inc and Ross Stores Inc are identified as overbought stocks in the consumer discretionary sector, with RSI values above 70. CAVA's stock has risen 28% in the past month, while Ross Stores declared a quarterly dividend.
August 22, 2024 | 12:58 pm
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NEGATIVE IMPACT
CAVA Group Inc is considered overbought with an RSI of 72.99. The stock has gained 28% over the past month, reaching a 52-week high.
CAVA's RSI indicates it is overbought, suggesting a potential price correction. The recent 28% gain and proximity to its 52-week high further support this view.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Ross Stores Inc is overbought with an RSI of 73.08. The stock has gained 6% in the past five days, and the company declared a quarterly dividend.
Ross Stores' RSI suggests it is overbought, indicating a potential price pullback. The recent price increase and dividend announcement are notable factors.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85