Alphabet, MannKind And Caterpillar - Today's Top RSI Stock Trades

Alphabet Inc (NASDAQ:GOOGL) stock becomes oversold. Time to buy more Google shares?

Shares of Alphabet Inc (NASDAQ:GOOGL) have been in a continuous decline since the Q2 earnings announcement. Google stock has lost more than 5% post earnings. The recent downtrend in Alphabet shares has resulted in the stock entering oversold territory as per the Relative Strength Index (RSI) indicator. The present RSI value of GOOGL stock stands at 27.60. This value is below the generally used oversold threshold of 30. This indeed could be a good buying opportunity for long-term investors to build new positions in Google stock, though the stock is yet to enter oversold territory according to the Bollinger Bands indicator. One important point to note here is that the stock's RSI measure has fallen below the oversold threshold value of 30 for the first time in 2017. This is another hint that the downward pressure on Google shares could be coming to an end. Alphabet stock has also got a recent bullish price target hike from MKM Partners.
GOOGL Technical chart

MannKind Corporation (NASDAQ:MNKD) stock enters oversold territory.

Shares of the beleaguered biopharmaceutical company MannKind Corporation (NASDAQ:MNKD) are in the oversold territory. MannKind shares have become oversold, according to the Relative Strength Index (RSI) indicator, after its Q2 earnings yesterday, August 7. The present RSI measure for MNKD stock is 25.86 compared to commonly used oversold threshold measure of 30. However, Bollinger Bands still do not signal an oversold condition. Shares of the company are down 1% after hours on modest volume.  The company missed the earnings estimate but beat on revenue. MannKind posted a Non-GAAP loss per share of 35 cents against analyst estimate of 25 cents. The company reported a revenue of $2.2 million, 0.2 million more than expectations.MNKD Technical chart

Caterpillar Inc. (NYSE:CAT) stock could enter a consolidation phase.

The rise of construction and mining equipment company Caterpillar Inc's (NYSE:CAT) stock could slow down in the near-term. CAT stock has been in an uptrend recently. The company's strong Q2 earnings led the stock to a five-year high. The increased guidance has also boosted investor sentiment significantly. However, the rise in Caterpillar shares in the immediate term could be limited as the stock is now in the overbought zone. The Relative Strength Index (RSI) indicator is flashing an overbought signal for Caterpillar stock since yesterday. The RSI measure of CAT stock has exceeded the generally used overbought threshold of 70. The current RSI measure for the stock is 75.88. At present, another momentum indicator, Bollinger Band, does not give an overbought signal but the RSI measure suggests the stock could soon enter into a consolidation phase and the rise in share price, in the near-term, could be limited.

CAT Technical chart

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Sreekanth Anasa Sreekanth Anasa   on Amigobulls :

Neither Amigobulls, nor any members of its staff hold positions in any of the stocks discussed in this post. The author may not be a certified/registered investment advisor, and the opinions expressed should not be treated as investment advice.

Buying and selling of securities carries the risk of monetary losses.Readers/Viewers are advised to carry out their own due diligence and consult their investment advisors before making any investment decisions.

Neither Amigobulls, nor the author have any business relationship with any of the companies covered in this post.

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