Benzinga · Oct 6, 2023
Top 4 Tech Stocks That May Collapse In October
The most overbought stocks in the information technology sector presents an opportunity to go short on these overvalued companies. The RSI is a momentum indicator, which compares a stock's strength on days when prices go up to its strength on days when prices go down. When compared to a stock's price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70. Here’s the latest list of major overbought players in this sector. Jabil Inc. (NYSE: JBL) Jabil reported mixed fourth-quarter results and issued strong first-quarter earnings guidance. "The team delivered yet another solid year and I'm pleased with the progress ...
