20 Overbought Stocks Being Targeted by Short Sellers

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 |  Includes: ADP, AGU, AMX, APC, BAX, BBY, CA, CTL, DOW, F, GILD, NOV, OKS, OMC, PM, PT, SNI, SPY, SWY, VMED, XRX
by: Kapitall

The following is a list of overbought stocks, as defined by the Relative Strength, or RSI(14), indicator. All of the stocks in this list have RSI(14) values above 70, which usually signal overbought conditions.

In addition, all of these stocks have seen a significant increase in short interest over the last three months. For each stock we'll list the change in shares shorted between 6/30 and 9/30.

We'll also list the short ratio, which expresses the total number of shorted shares as a multiple of average daily volume. In other words, the short ratio shows how many days of average volume is needed to cover all short positions.

Short trends data sourced from AOL Money, RSI(14) values sourced from Finviz. Full analysis below.

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The list has been sorted by the change in short ratio. (Note: All trends described occurred between 6/30 - 9/30).

1. Anadarko Petroleum Corporation (NYSE:APC): Independent Oil & Gas Industry. Market cap of $31.4B. RSI(14) at 72.62. Short ratio has increased from 0.4 days to 1.8 days, with shares shorted increasing from 7.43M to 9.13M.

2. ONEOK Partners, L.P. (NYSE:OKS): Oil & Gas Pipelines Industry. Market cap of $8.07B. RSI(14) at 73.21. Short ratio has increased from 2 days to 6.6 days, with shares shorted increasing from 310,527 to 695,408.

3. Portugal Telecom SGPS SA (NYSE:PT): Wireless Communications Industry. Market cap of $12.6B. RSI(14) at 71.14. Short ratio has increased from 0.9 days to 2.5 days, with shares shorted increasing from 271,297 to 230,921.

4. National Oilwell Varco, Inc. (NYSE:NOV): Oil & Gas Equipment & Services Industry. Market cap of $21.8B. RSI(14) at 75.23. Short ratio has increased from 0.8 days to 2.2 days, with shares shorted increasing from 6.47M to 8.52M.

5. Agrium Inc. (NYSE:AGU): Agricultural Chemicals Industry. Market cap of $13.9B. RSI(14) at 70.44. Short ratio has increased from 1 days to 2.5 days, with shares shorted increasing from 1.43M to 3.66M.

6. CA Technologies (NASDAQ:CA): Application Software Industry. Market cap of $11.84B. RSI(14) at 75.84. Short ratio has increased from 1.1 days to 2.6 days, with shares shorted increasing from 5.24M to 10.62M.

7. Best Buy Co. Inc. (NYSE:BBY): Electronics Stores Industry. Market cap of $17.08B. RSI(14) at 77.64. Short ratio has increased from 1.5 days to 3.2 days, with shares shorted increasing from 13.25 M to 20.88 M.

8. Xerox Corp. (NYSE:XRX): Business Equipment Industry. Market cap of $15.94B. RSI(14) at 71.3. Short ratio has increased from 0.8 days to 1.7 days, with shares shorted increasing from 13.97M to 21.43M.

9. Baxter International Inc. (NYSE:BAX): Medical Instruments & Supplies Industry. Market cap of $29.8B. RSI(14) at 70.44. Short ratio has increased from 0.9 days to 1.9 days, with shares shorted increasing from 5.14M to 7.62M.

10. Safeway Inc. (NYSE:SWY): Grocery Stores Industry. Market cap of $8.46B. RSI(14) at 70.05. Short ratio has increased from 3.9 days to 8.2 days, with shares shorted increasing from 25.53M to 32.27M.

11. Philip Morris International, Inc. (NYSE:PM): Cigarettes Industry. Market cap of $109.06B. RSI(14) at 74.22. Short ratio has increased from 2 days to 4 days, with shares shorted increasing from 21.84M to 28.28M.

12. Automatic Data Processing, Inc. (NASDAQ:ADP): Business Software & Services Industry. Market cap of $21.74B. RSI(14) at 76.1. Short ratio has increased from 1.6 days to 3.1 days, with shares shorted increasing from 6.72M to 8.23M.

13. CenturyLink, Inc. (NYSE:CTL): Telecom Services Industry. Market cap of $12.37B. RSI(14) at 74.01. Short ratio has increased from 4.6 days to 8.5 days, with shares shorted increasing from 14.74M to 29.35M.

14. America Movil S.A.B. de C.V. (NYSE:AMX): Wireless Communications Industry. Market cap of $93.69B. RSI(14) at 72.47. Short ratio has increased from 1.4 days to 2.5 days, with shares shorted increasing from 5.48M to 6.77M.

15. The Dow Chemical Company (NYSE:DOW): Chemicals Industry. Market cap of $36.54B. RSI(14) at 72.78. Short ratio has increased from 1.9 days to 3.3 days, with shares shorted increasing from 22.20M to 27.08M.

16. Virgin Media, Inc. (NASDAQ:VMED): CATV Systems Industry. Market cap of $8.21B. RSI(14) at 74.2. Short ratio has increased from 5.2 days to 9 days, with shares shorted increasing from 23.76M to 30.48M.

17. Ford Motor Co. (NYSE:F): Auto Manufacturers - Major Industry. Market cap of $49.39B. RSI(14) at 71.93. Short ratio has increased from 3.4 days to 5.7 days, with shares shorted increasing from 275.69M to 289.02M.

18. Omnicom Group Inc. (NYSE:OMC): Advertising Agencies Industry. Market cap of $13.22B. RSI(14) at 77.7. Short ratio has increased from 1.8 days to 3 days, with shares shorted increasing from 5.56M to 5.78M.

19. Scripps Networks Interactive, Inc. (NASDAQ:SNI): TV Industry. Market cap of $8.2B. RSI(14) at 70.96. Short ratio has increased from 2.6 days to 4.3 days, with shares shorted increasing from 2.06M to 2.74M.

20. Gilead Sciences Inc. (NASDAQ:GILD): Biotechnology Industry. Market cap of $32.3B. RSI(14) at 74.63. Short ratio has increased from 1.4 days to 2.3 days, with shares shorted increasing from 16.37M to 21.63M.

Disclosure: No positions