Top 2 Industrials Stocks You May Want To Dump In Q3
Portfolio Pulse from Avi Kapoor
Two industrial stocks, Tecnoglass Inc (TGLS) and Lockheed Martin Corp (LMT), are considered overbought with RSI values above 70. Despite strong financial results and strategic deals, investors may want to reconsider holding these stocks due to potential short-term price corrections.
August 27, 2024 | 12:11 pm
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NEGATIVE IMPACT
Lockheed Martin Corp's acquisition of Terran Orbital for $450 million has driven its stock up by 6% over the past month. However, with an RSI of 72.59, the stock is considered overbought, indicating a potential short-term price correction.
The acquisition news has positively impacted Lockheed Martin's stock, but the high RSI suggests it is overbought, which could lead to a short-term price correction.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Tecnoglass Inc reported strong Q2 results and raised FY24 guidance, but its RSI of 70.47 suggests it may be overbought. The stock gained 16% over the past month, indicating potential for a short-term price correction.
Tecnoglass has shown strong financial performance, but the RSI indicates it is overbought. This suggests a potential short-term price correction as the stock may have risen too quickly.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90