Top 3 Financials Stocks That May Plunge In September
Portfolio Pulse from Avi Kapoor
Three financial stocks, ICICI Bank (IBN), HDFC Bank (HDB), and Jefferies Financial Group (JEF), are considered overbought with high RSI values, indicating potential short-term price declines. ICICI and HDFC have seen significant gains recently, while Jefferies received a Buy rating from UBS.
September 23, 2024 | 1:05 pm
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NEGATIVE IMPACT
HDFC Bank's stock is overbought with an RSI of 79.06, and a recent downgrade by JP Morgan could lead to a short-term price decline.
HDFC Bank's high RSI and recent downgrade by JP Morgan suggest potential for a price decline. The stock's 8% gain over the past month increases the risk of a pullback.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100
NEGATIVE IMPACT
ICICI Bank's stock is overbought with an RSI of 79.28, indicating potential for a short-term price decline despite recent gains.
ICICI Bank's high RSI suggests it is overbought, which often precedes a price correction. The stock's recent 10% gain adds to the likelihood of a pullback.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100
NEUTRAL IMPACT
Jefferies Financial Group is overbought with an RSI of 70.42, but a recent Buy rating from UBS may support its price.
Jefferies Financial's RSI indicates it is overbought, but the recent Buy rating from UBS and a price target of $67 may provide support, balancing the potential for a decline.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100