Top 2 Industrials Stocks You May Want To Dump This Month
Portfolio Pulse from Avi Kapoor
Southwest Airlines Co (LUV) and China Yuchai International Limited (CYD) are identified as overbought stocks in the industrials sector, with RSI values above 70. Southwest Airlines announced a board refreshment, while China Yuchai updated its share buyback plan.
September 10, 2024 | 12:45 pm
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NEGATIVE IMPACT
China Yuchai International Limited is overbought with an RSI of 72.11. The company is nearing completion of its $40 million share buyback plan, with $38.5 million already repurchased. The stock has gained 10% over the past month.
The RSI suggests CYD is overbought, indicating a potential price pullback. The nearing completion of the buyback plan may not sustain the recent price gains, leading to a negative short-term outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Southwest Airlines Co is considered overbought with an RSI of 70.57. The company announced a board refreshment, with Executive Chairman Gary Kelly retiring after the 2025 Annual Meeting. The stock has gained 17% over the past month.
The RSI indicates that LUV is overbought, suggesting a potential price correction. The board refreshment news may add uncertainty, contributing to a negative short-term outlook.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80