Top 3 Defensive Stocks You May Want To Dump In September
Portfolio Pulse from Avi Kapoor
Three consumer staples stocks, Instacart (CART), US Foods Holding Corp (USFD), and Monster Beverage Corp (MNST), are currently overbought according to their RSI values. Investors may want to reconsider holding these stocks due to potential short-term price corrections.

September 19, 2024 | 12:37 pm
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NEGATIVE IMPACT
Instacart's stock is overbought with an RSI of 76.17, indicating potential for a short-term price correction. Despite a recent 19% gain, investors should be cautious.
Instacart's RSI of 76.17 suggests it is overbought, which often precedes a price correction. Despite positive analyst coverage and recent gains, the high RSI is a warning sign for momentum traders.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Monster Beverage is overbought with an RSI of 71.75. The recent share repurchase program may not prevent a short-term price correction.
Monster Beverage's RSI of 71.75 suggests it is overbought. While the share repurchase program is positive, the high RSI indicates potential for a short-term price drop.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
US Foods Holding Corp is overbought with an RSI of 73.11. Despite a recent price target increase, the stock may face short-term downward pressure.
US Foods' RSI of 73.11 indicates it is overbought. Although the price target was raised, the high RSI suggests potential for a short-term price decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100