Top 2 Risk Off Stocks That May Crash In September
Portfolio Pulse from Avi Kapoor
Altria Group Inc (NYSE:MO) and Kellanova (NYSE:K) are identified as overbought stocks in the consumer staples sector, with RSI values above 70, indicating potential short-term price corrections. Altria recently increased its dividend, while Kellanova is set to be acquired by Mars, Inc.
September 04, 2024 | 1:06 pm
News sentiment analysis
Sort by:
Descending
NEGATIVE IMPACT
Kellanova (NYSE:K) has an RSI of 81.98, indicating it is overbought. The stock is up 10% in the past month and is set to be acquired by Mars, Inc. for $83.50 per share.
Kellanova's high RSI indicates it is overbought, suggesting a potential price correction. The acquisition by Mars, Inc. may stabilize the price, but short-term volatility is likely.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
Altria Group Inc (NYSE:MO) has an RSI of 79.57, indicating it is overbought. The stock has gained 10% in the past month and recently increased its dividend by 4.1%.
Altria's high RSI suggests it is overbought, which often precedes a price correction. The recent dividend increase and stock price gain add to the likelihood of a short-term pullback.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80