Top 3 Real Estate Stocks That May Implode In Q2

As of May 15, 2024, three stocks in the real estate sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.

The RSI is a momentum indicator, which compares a stock’s strength on days when prices go up to its strength on days when prices go down. When compared to a stock’s price action, it can give traders a better sense of how a stock may perform in the short term. An asset is typically considered overbought when the RSI is above 70, according to Benzinga Pro.

Here's the latest list of major overbought players in this sector.

Redfin Corporation RDFN

• On May 13, Susquehanna analyst Shyam Patil maintained Redfin with a Neutral and raised the price target from $7 to $8. The company's stock gained around 14% over the past five days and has a 52-week high of $17.68.
• RSI Value: 75.65                              
• RDFN Price Action: Shares of Redfin fell 1.3% to close at $7.90 on Tuesday.

Healthcare Realty Trust Incorporated HR

• On May 7, Healthcare Realty Trust posted better-than-expected quarterly FFO. The company's stock gained around 17% over the past month and has a 52-week high of $20.25.
• RSI Value: 78.75
• HR Price Action: Shares of Healthcare Realty Trust rose 1.6% to close at $16.27 on Tuesday.

eXp World Holdings, Inc. EXPI

• On May 1, eXp World Holdings reported better-than-expected first-quarter financial results. “During the first quarter, our agents closed over $37 billion of transactions, a 12% year-over-year increase, underscoring eXp’s unparalleled scale in the cloud brokerage market we pioneered,” said Glenn Sanford, eXp World Holdings Founder, Chairman and CEO. “We continue to provide our agents with the industry’s best platform for growth and the resources they need to navigate today’s dynamic real estate market.” The company's stock gained around 33% over the past month and has a 52-week high of $25.39.
• RSI Value: 70.31
• EXPI Price Action: Shares of eXp World rose 2.9% to close at $12.93 on Tuesday.

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