Top 2 Risk Off Stocks That May Crash In Q3
Portfolio Pulse from Avi Kapoor
Philip Morris International and Walmart are identified as overbought stocks in the consumer staples sector, with RSI values above 70, indicating potential short-term price corrections. Philip Morris reported strong earnings, while Walmart received an analyst price target increase.
August 23, 2024 | 12:43 pm
News sentiment analysis
Sort by:
Ascending
NEGATIVE IMPACT
Philip Morris International is considered overbought with an RSI of 76.14, despite reporting strong Q2 earnings and raising its EPS outlook. The stock has gained 10% over the past month.
Philip Morris has an RSI above 70, indicating it is overbought. Despite strong earnings, the high RSI suggests a potential short-term price correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Walmart is considered overbought with an RSI of 75.34. An analyst maintained an Outperform rating and raised the price target, but the stock's recent gains suggest a potential short-term correction.
Walmart's RSI is above 70, indicating it is overbought. Despite a positive analyst rating, the high RSI suggests a potential short-term price correction.
CONFIDENCE 85
IMPORTANCE 60
RELEVANCE 80