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The Allstate Corp (ALL) is Overbought: Is A Drop Coming?
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The Allstate Corporation (ALL - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because ALL is now in overbought territory with an RSI value of 73.94.
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 ALL’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions The Allstate Corp’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 ALL’s prospects for the near term.
Over the past one month, investors have witnessed 4 earnings estimate revision lower compared to 2 higher for the current year. The consensus estimate for ALL’s has also been on a downward trend over the same time period too, as the estimates have fallen 2.9% over the last two months.
If this wasn’t enough, The Allstate Corp. 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.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
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The Allstate Corp (ALL) is Overbought: Is A Drop Coming?
The Allstate Corporation (ALL - Free Report) has moved higher as of late, but there could definitely be trouble on the horizon for this company. That is because ALL is now in overbought territory with an RSI value of 73.94.
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 ALL’s high RSI value isn’t the only reason for investors to be concerned, as there has been some decidedly negative earnings estimate revisions The Allstate Corp’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 ALL’s prospects for the near term.
Over the past one month, investors have witnessed 4 earnings estimate revision lower compared to 2 higher for the current year. The consensus estimate for ALL’s has also been on a downward trend over the same time period too, as the estimates have fallen 2.9% over the last two months.
If this wasn’t enough, The Allstate Corp. 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.
These Stocks Are Poised to Soar Past the Pandemic
The COVID-19 outbreak has shifted consumer behavior dramatically, and a handful of high-tech companies have stepped up to keep America running. Right now, investors in these companies have a shot at serious profits. For example, Zoom jumped 108.5% in less than 4 months while most other stocks were sinking.
Our research shows that 5 cutting-edge stocks could skyrocket from the exponential increase in demand for “stay at home” technologies. This could be one of the biggest buying opportunities of this decade, especially for those who get in early.
See the 5 high-tech stocks now>>