Just 16 Overbought S&P 500 Stocks

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Includes: AZO, CSCO, MJN, NEM, ORLY
by: Bespoke Investment Group

As noted earlier, the S&P 500 is currently trading right at the bottom of its trading range. Of the 500 stocks in the index, just 16 are currently trading in overbought territory. There are 143 stocks in the index that are oversold.

Below we highlight our trading range screen for the 16 names in the index that are overbought. As shown, AutoZone (NYSE:AZO) is currently the most overbought stock in the index, followed by Mead Johnson (NYSE:MJN), O'Reilly Automotive (NASDAQ:ORLY), Newmont Mining (NYSE:NEM), and Cisco Systems (NASDAQ:CSCO). Yes, CSCO is actually overbought. In fact, CSCO is also the only stock in the Dow 30 that is overbought. It's been a long while since that happened.

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