Top 2 Materials Stocks That Are Ticking Portfolio Bombs
Portfolio Pulse from Avi Kapoor
As of August 29, 2024, Eightco Holdings Inc (NASDAQ:OCTO) and Sherwin-Williams Co (NYSE:SHW) are considered overbought in the materials sector, with RSI values above 70. Both companies have shown recent stock price gains, but investors should be cautious due to potential momentum shifts.
August 29, 2024 | 12:48 pm
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NEUTRAL IMPACT
Sherwin-Williams Co is overbought with an RSI of 70.33. The company reported strong earnings, but the stock's recent 0.5% gain suggests limited short-term upside.
Sherwin-Williams has an RSI of 70.33, indicating it is overbought. While the company reported strong earnings, the modest 0.5% stock gain suggests limited short-term upside potential.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 90
NEGATIVE IMPACT
Eightco Holdings Inc is considered overbought with an RSI of 83.86. Despite recent gains and improved financial conditions, the stock fell 2.4% recently, indicating potential volatility.
Eightco Holdings has an RSI of 83.86, indicating it is overbought. Despite recent financial improvements and stock gains, the recent 2.4% drop suggests potential for short-term price decline.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90