Top 2 Tech Stocks That May Crash This Quarter
Portfolio Pulse from Avi Kapoor
IBM and Oracle are identified as potentially overbought tech stocks with high RSI values, indicating possible short-term price corrections. IBM's recent acquisition and Oracle's earnings beat have driven their stock prices up significantly.
September 11, 2024 | 1:00 pm
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NEGATIVE IMPACT
IBM's stock is considered overbought with an RSI of 71.10, following an 8% gain over the past month and a recent acquisition of Accelalpha, Inc. This may lead to a short-term price correction.
IBM's RSI above 70 indicates overbought conditions, suggesting a potential price correction. The recent acquisition and stock gains contribute to this status.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Oracle's stock is overbought with an RSI of 73.05 after an 18% gain and an earnings beat. This may result in a short-term price correction despite strong financial performance.
Oracle's RSI above 70 suggests overbought conditions, indicating a potential price correction. The stock's recent gains and earnings beat are factors in this assessment.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 80