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Haynes International (HAYN) is in Overbought Territory: What's Next?
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Haynes International, Inc. (HAYN - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because HAYN is now in overbought territory with an RSI value of 70.83.
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 HAYN’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions Haynes International’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 HAYN’s prospects for the near term.
Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for HAYN’s has also been on a downward trend over the same time period too, as the estimates have fallen 54.2% over the last two months.
If this wasn’t enough, Haynes International also has a Zacks Rank #5 (Strong 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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Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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Haynes International (HAYN) is in Overbought Territory: What's Next?
Haynes International, Inc. (HAYN - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because HAYN is now in overbought territory with an RSI value of 70.83.
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 HAYN’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions Haynes International’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 HAYN’s prospects for the near term.
Over the past one month, investors have witnessed 1 earnings estimate revision lower compared to none higher for the current year. The consensus estimate for HAYN’s has also been on a downward trend over the same time period too, as the estimates have fallen 54.2% over the last two months.
If this wasn’t enough, Haynes International also has a Zacks Rank #5 (Strong 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.
Legal Marijuana: An Investor’s Dream
Imagine getting in early on a young industry primed to skyrocket from $17.7 billion in 2019 to an expected $73.6 billion by 2027.
Although marijuana stocks did better as the pandemic took hold than the market as a whole, they’ve been pushed down. This is exactly the right time to get in on selected strong companies at a fraction of their value before COVID struck. Zacks’ Special Report, Marijuana Moneymakers, reveals 10 exciting tickers for urgent consideration.
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