Bespoke's list of the S&P's most overbought stocks, based on the number of standard...

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Hank890 Comments (120)
 
I would not use the term "overbought" to describe these stocks, frankly speaking, because it is misleading. These stocks are moving quickly above their 50 day moving average,...fine,...but there is no empirical evidence offered as to whether this movment is justified or not. Given their recently reported results, they may be under-bought.
31 Jan, 07:42 PM Reply Like

Sharplikecheddar Comments (78)
 
Hi Hank,

I recently began really paying attention and studying technical indicators and charts. Would you mind elaborating on "but there is no empirical evidence offered as to whether this movement is justified or not"

Specifically what evidence or catalysts your are looking for? Any help or education would be greatly appreciated. Thanks
31 Jan, 07:49 PM Reply Like

NKOTB Comments (32)
 
I own chk and technically still think that chk still bullish and still have rooms tothe upside with Tp $25. Fundamental, a bit tricky however, analyst mean tp is $23. TA for oil also bullish, therefore still could not find any reason to be bearish on CHK
31 Jan, 08:29 PM Reply Like

MexCom Comments (2797)
 
Some of these stocks have a very low beta. PG for example has a beta of .23 . They raise their dividend every year and have reacted recently to a general rising stock market and good earnings report. To think that this stock is "over bought" and vulnerable to decline - I would say it is less vulnerable than the average, it still presents an excellent investment potential and more than likely will continue to rise in price with less risk than the S&P average. I am a fairly recent buyer of PG with an average purchase date of August 2012. It has produced an annual rate of return during this period of over 30% for me. I currently have less than a full position for portfolio weighting and would certainly add on any pull back. BTW - another recent SA article covering PG has it that the stock is "fairly valued."
1 Feb, 05:35 AM Reply Like

Steve98 Comments (14)
 
Hello, I am new to this site. My background is long term investing in Dow equities.
I see PG as a great stock to buy and hold. It has great brands, exceptional market shares in all product cats. Has a modest annual price appreciation and a good dividend. I have held this stock for more than 6 years and seen good total return year over year. If you like sleeping at night this is a good place to put your money; safe, modest ROI, and a 3% dividend. If $75 and change is to steep hang in there you will be able to by on the dip
Steve
5 Feb, 09:39 AM Reply Like

casper1918 Comments (22)
 
I sold PSX at the end of 2012 and rebought in early January. It still has a PE of around 7 and refiners have all been doing very well as oil found domestically has helped them on pricing. So maybe some of these stocks are overbought, but I don't believe PSX is one of them.
5 Feb, 01:18 PM Reply Like