Top 2 Tech Stocks That May Dip In October
Portfolio Pulse from Avi Kapoor
Two tech stocks, CompoSecure Inc (CMPO) and Coherent Corp (COHR), are considered overbought with high RSI values, indicating potential short-term price dips. CompoSecure reported strong Q2 results, while Coherent saw a price target increase and a new CFO appointment.
October 14, 2024 | 12:58 pm
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NEGATIVE IMPACT
CompoSecure Inc is considered overbought with an RSI of 76.09, suggesting a potential short-term price dip despite strong Q2 results and recent stock gains.
CompoSecure's RSI of 76.09 indicates it is overbought, which often precedes a price dip. Despite strong Q2 results and recent gains, the high RSI suggests a potential correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Coherent Corp is overbought with an RSI of 85.47, indicating a potential short-term price dip despite a raised price target and new CFO appointment.
Coherent's RSI of 85.47 suggests it is overbought, which could lead to a price dip. The raised price target and new CFO are positive, but the high RSI indicates a potential correction.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80