Top 4 Consumer Stocks That May Dip This Quarter
Portfolio Pulse from Avi Kapoor
Four consumer discretionary stocks, Nordstrom, Toll Brothers, Autoliv, and McDonald's, are identified as potentially overbought with high RSI values, indicating possible short-term price dips. Analysts have recently adjusted ratings and price targets for these stocks.
October 21, 2024 | 12:52 pm
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NEGATIVE IMPACT
Autoliv's stock is overbought with an RSI of 70.49. Despite better-than-expected Q3 sales, the stock's recent 6% gain may lead to a short-term dip.
Autoliv's high RSI and recent price increase suggest it is overbought, which may result in a short-term price decline despite strong sales performance.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Nordstrom's stock is considered overbought with an RSI of 76.29. It was recently downgraded by Keybanc, and its price has increased by 10% over the past five days.
Nordstrom's high RSI suggests it is overbought, and the recent downgrade by Keybanc could lead to a short-term price decline as investors may take profits.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 90
NEGATIVE IMPACT
McDonald's is overbought with an RSI of 82.85. TD Cowen raised its price target, but the stock's recent 6% gain may lead to a short-term dip.
McDonald's high RSI and recent price increase suggest it is overbought, which may lead to a short-term price correction despite a raised price target.
CONFIDENCE 75
IMPORTANCE 65
RELEVANCE 75
NEGATIVE IMPACT
Toll Brothers is overbought with an RSI of 72.41. Oppenheimer raised its price target, and the stock has gained 6% in the past five days.
Despite a raised price target, Toll Brothers' high RSI suggests it is overbought, which may lead to a short-term price correction.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 85