Top 2 Financials Stocks That May Implode In October
Portfolio Pulse from Avi Kapoor
Morningstar Inc (MORN) and Msci Inc (MSCI) are identified as potentially overbought stocks in the financial sector, with RSI values above 70. Analysts have initiated coverage with positive ratings, but investors should be cautious of momentum indicators.
October 09, 2024 | 12:56 pm
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NEGATIVE IMPACT
Morningstar Inc is considered overbought with an RSI of 77.50. UBS analyst initiated coverage with a Buy rating and a price target of $390. The stock has gained 10% over the past month.
The high RSI suggests the stock is overbought, which could lead to a price correction. Despite the positive analyst rating, the momentum indicator warns of potential downside.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Msci Inc is considered overbought with an RSI of 71.97. Evercore ISI Group analyst initiated coverage with an Outperform rating and a price target of $690. The stock has gained 7% over the past month.
The high RSI suggests the stock is overbought, which could lead to a price correction. Despite the positive analyst rating, the momentum indicator warns of potential downside.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80