Top 2 Consumer Stocks That May Collapse In Q4
Portfolio Pulse from Avi Kapoor
Trip.com Group Ltd (NASDAQ:TCOM) and TAL Education Group (NYSE:TAL) are identified as overbought stocks in the consumer discretionary sector, with RSI values above 70. Despite recent gains, both stocks experienced a decline in their share prices.
October 04, 2024 | 11:31 am
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NEGATIVE IMPACT
TAL Education Group is overbought with an RSI of 70.91. The stock gained 44% over the past month but fell 3.5% recently. Upcoming earnings on Oct. 24 could impact the stock further.
With an RSI of 70.91, TAL is overbought, indicating a potential price drop. The recent 3.5% decline and upcoming earnings report add to the uncertainty.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 90
NEGATIVE IMPACT
Trip.com Group Ltd is considered overbought with an RSI of 77.46, indicating potential for a price correction. Despite strong earnings and a 36% gain over the past month, shares fell 3.4% recently.
The RSI value of 77.46 suggests that Trip.com is overbought, which often precedes a price correction. The recent 3.4% drop in share price supports this potential downward trend.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90