Lookout Below
During the weekly update, the following stocks were flagged based on a decline from RSI greater than 70 (potentially overbought) to less than 70. Reminder: We use a long-term chart (monthly) for this analysis.
All of these companies should be subjected to an assertive portfolio-centered selling analysis.
- Mylan Labs (MYL)
- Novo Nordisk (NVO)
- Robert Half (RHI)
Mylan Labs (MYL)
Novo Nordisk (NVO)
Love the company … would probably want to wait for a slightly higher PAR and a clear reversal in the RSI trend.
Robert Half (RHI)
This community favorite has had a heckuva run over the last several months. With a PAR (5.9%) less than the market average (MIPAR = 7.0%) and relatively rare RSI breaks and excursions over the last ten years, if you’re holding this high-quality (Quality Rank = 88th percentile) career and employment leader, your recent gains may be worth capturing/protecting.
Check overall portfolio return forecasts and this RSI break condition could be a tiebreaker when pondering selling candidates.
Expecting Alpha 