Washington Federal (NASDAQ:), Inc. WAFD has moved increased as of late, however there may positively be bother on the horizon for this firm. That’s as a result of WAFD is now in overbought territory with an RSI worth of 71.48.
RSI stands for ‘Relative Energy Index’ and it’s a standard indicator utilized by technically centered traders. It compares the common of beneficial properties in days that closed as much as the common of losses in days that closed down; readings above 70 recommend an asset is overbought, whereas an RSI under 30 suggests undervalued situations are current.
But WAFD’s excessive RSI worth isn’t the one cause for traders to be involved, as there was some decidedly destructive earnings estimate revisions Washington Federal’s inventory as of late. That is very true when traders dive into a few of these revisions as a way to get a greater image of WAFD’s prospects for the close to time period.
Over the previous one month, traders have witnessed 1 earnings estimate revision decrease in comparison with none increased for the present yr. The consensus estimate for WAFD’s has additionally been on a downward development over the identical time interval too, because the estimates have fallen 6.8% during the last two months.
If this wasn’t sufficient, Washington Federal additionally has a Zacks Rank #5 (Sturdy Promote) which places it into unlucky firm amongst its friends. So, given all of those components, traders might wish to contemplate exiting this inventory now earlier than it falls again to Earth. You’ll be able to see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
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