2 Tech Stocks Likely to Fall This Octobe

As of October 14, 2024, two tech stocks show signs of being overbought, which may concern investors who rely on momentum for trading.

The Relative Strength Index (RSI) measures a stock’s price strength on up-days versus down-days. An RSI above 70 indicates a stock could be overbought.

CompoSecure Inc CMPO

• CompoSecure’s Q2 results exceeded expectations, with strong sales growth. The stock rose about 16% in the last month, reaching a 52-week high of $14.39.
• RSI Value: 76.09
• CMPO Price Action: Closed at $14.30 after a 3% gain.

Coherent Corp COHR

• Coherent’s stock jumped 39% last month. An analyst recently raised its price target from $84 to $120. It reached a 52-week high of $104.67.
• RSI Value: 85.47
• COHR Price Action: Closed at $104.62 after a 5.6% increase.

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