Russell 1000 Stocks Furthest Above 50-Day Moving Averages

Of all the stocks trading above $5/share in the Russell 1,000, 24% are trading above their 50-day moving averages. Below we highlight the ones trading the furthest above their 50-days. There are always stocks that exhibit relative strength even in bear markets, and the names below have been strong lately. As shown, Big Lots (BIG) is trading the furthest above its 50-day at 35%, followed by Freeport-McMoRan Copper and Gold (FCX), Rohm and Haas (ROH), Carmax (KMX), Leap Wireless (LEAP), and Morgan Stanley (MS). Other notables on the list of overbought names include CF Industries (CF), Whole Foods (WFMI), Nordstrom (JWN), Amazon.com (AMZN), and Goldman Sachs (GS).

Below we highlight long-term charts showing the % difference between the price and 50-day moving average of Big Lots (BIG) and Freeport-McMoRan (FCX) -- the two most overbought stocks in the Russell 1,000. As shown, the 50-day spreads for both stocks are at the very top end of their historical ranges.

Comments

[Drew Arnold:]

The Russell 1000 as a whole looks like it could very well be running out of steam to the upside if it approaches its 50-day. This could set up for a great short trade, look for it!

Mar 14 02:55 PM

[investor88:]

A two edged sword as always.

Mar 15 03:48 AM

[bassmaster17:]

Freeport's director must see something going on in China. I doubt there's anything to hang his hat on in this pathetic economy.

Mar 17 12:23 PM