Top 2 Defensive Stocks That May Crash In October
Portfolio Pulse from Avi Kapoor
Cal-Maine Foods and BJ's Wholesale Club are identified as overbought stocks in the consumer staples sector, with high RSI values indicating potential short-term price corrections.
October 07, 2024 | 1:05 pm
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NEGATIVE IMPACT
BJ's Wholesale Club has been rated a Buy by Melius Research with a price target of $90, but its RSI of 70.08 indicates it may be overbought, suggesting a potential short-term price correction.
BJ's Wholesale Club received a Buy rating and has seen an 11% stock price increase. However, the RSI of 70.08 suggests it is overbought, indicating a potential short-term price correction as the stock may be due for a pullback.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 100
NEGATIVE IMPACT
Cal-Maine Foods has shown strong earnings and a significant stock price increase, but its high RSI value of 85.31 suggests it may be overbought, indicating a potential short-term price correction.
Cal-Maine Foods reported strong earnings and a 24% stock price increase, but the RSI of 85.31 indicates it is overbought. This suggests a potential short-term price correction as the stock may be due for a pullback.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100