As mentioned in our prior post, 53% of S&P 500 stocks are trading in overbought territory (at least one standard deviation above the 50-day moving average). Below are the thirty stocks in the index that are the most overbought shown in our trading range screen. For each stock, the circle represents where the stock is currently trading relative to its range, and the end of the tail shows where the stock was trading a week ago. A green circle means that the stock is up over the past week, while a red circle means it is down. Interestingly, about half of the most overbought stocks have been even more overbought in recent days.
The two most overbought names in the S&P 500 are CH Robinson (CHRW) and Fiserv (FISV) -- both technology stocks. Other notables on the list of most overbought S&P stocks include Corning (GLW), JP Morgan (JPM), Goldman Sachs (GS), and Caterpillar (CAT).
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