Titan Machinery Inc. (TITN - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because TITN is now in overbought territory with an RSI value of 76.74.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet TITN’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in Titan Machinery’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of TITN’s prospects for the near term.
Over the past two months, investors have witnessed 3 earnings estimate revisions lower compared to none higher for the current year. The consensus estimate for TITN has also been on a downward trend over the same time period too, as the estimate has fallen from -$0.43/share two months ago to just -$0.52/share today.
If this wasn’t enough, Titan Machinery also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
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Titan Machinery Inc. (TITN - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because TITN is now in overbought territory with an RSI value of 76.74.
What is RSI?
RSI stands for ‘Relative Strength Index’ and it is a popular indicator used by technically focused investors. It compares the average of gains in days that closed up to the average of losses in days that closed down; readings above 70 suggest an asset is overbought, while an RSI below 30 suggests undervalued conditions are present.
Other Factors
Yet TITN’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions in Titan Machinery’s stock as of late. This is especially true when investors dive into some of these revisions in order to get a better picture of TITN’s prospects for the near term.
Over the past two months, investors have witnessed 3 earnings estimate revisions lower compared to none higher for the current year. The consensus estimate for TITN has also been on a downward trend over the same time period too, as the estimate has fallen from -$0.43/share two months ago to just -$0.52/share today.
If this wasn’t enough, Titan Machinery also has a Zacks Rank #4 (Sell) which puts it into unfortunate company among its peers. So, given all of these factors, investors may want to consider exiting this stock now before it falls back to Earth. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Zacks’ Best Private Investment Ideas
While we are happy to share many articles like this on the website, our best recommendations and most in-depth research are not available to the public.
Starting today, for the next month, you can follow all Zacks' private buys and sells in real time. Our experts cover all kinds of trades… from value to momentum . . . from stocks under $10 to ETF and option moves . . . from stocks that corporate insiders are buying up to companies that are about to report positive earnings surprises. You can even look inside exclusive portfolios that are normally closed to new investors.Click here for Zacks' private trades >>
Zacks Names "Single Best Pick to Double"
From thousands of stocks, 5 Zacks experts each have chosen their favorite to skyrocket +100% or more in months to come. From those 5, Director of Research Sheraz Mian hand-picks one to have the most explosive upside of all.
It’s a little-known chemical company that’s up 65% over last year, yet still dirt cheap. With unrelenting demand, soaring 2022 earnings estimates, and $1.5 billion for repurchasing shares, retail investors could jump in at any time.
This company could rival or surpass other recent Zacks’ Stocks Set to Double like Boston Beer Company which shot up +143.0% in little more than 9 months and NVIDIA which boomed +175.9% in one year.
Free: See Our Top Stock and 4 Runners Up >>
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