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The most overbought and oversold S&P 500 stocks to start February

Feb. 01, 2023 11:48 AM ETSPDR® S&P 500 ETF Trust (SPY)QQQ, DIA, LVS, AXP, TPR, JNJ, PHM, CRM, BWA, ALGN, URI, STT, PNR, NEE, SP500, NDX, DJIBy: Kim Khan, SA News Editor30 Comments

Word OVERBOUGHT composed of wooden letters.

TolikoffPhotography/iStock via Getty Images

Stocks kicked off the year with a strong month for bulls, with growth names leading the way.

The Nasdaq Composite (COMP.IND) and Nasdaq 100 (NDX) (QQQ) gained nearly 11% in January, topping

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Comments (30)

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another 30% to go this year. keep buying, cant lose, impossible to decline. long tsla at 300, meta at 300, and FUBO at 31, and BABA at 250. long live mega caps. recession is over, dont listen to doom and gloom articles as they have no idea what Powell is doing. just follow Powell will make you rich.
jtmilan profile picture
these pumpers are bound to fail 🥱📉
idaustin profile picture
“The S&P also hit the "January Industry Trifecta" that indicates an almost guaranteed positive return for 2023.”

How did you come to this information? Is it somewhere on Seeking Alpha or did you utilize another method and what was it? I'm looking to follow the RSI's of my portfolio without looking at each stock individually.
darnoc111 profile picture
@johnseibert3 RSI is used in charting. I use Yahoo's charting and RSI is one of the options you can add to the chart. I also use bollinger bands, MACD, and Stolastics. Charting I find is a useful tool, but not the only thing to consider.
@darnoc111 Yahoo's charting is strong when looking at a few stocks, but it gets tedious when trying to look at a large number of positions (such as each of the S&P 500). I'm just wondering if there is a good way to do it at scale, especially on a daily basis.
darnoc111 profile picture
@johnseibert3 I do not know of anything. I like it for individual stocks.
Illuminati Investments profile picture
Stocks are as overbought as eggs at Costco.
@Illuminati Investments are they also as overpriced as the eggs?
thirdcamper profile picture
I'm a little grumpy about STT being overbought since I was down to the last 300 shares I wanted to buy and it got away from me. Hopefully it comes back down.
Michael Dolen profile picture
@thirdcamper Same here. Got my full $BLK position last year at the low, never got to $STT when it was at its low.
El Scorcho profile picture
What an amazing turnaround for the US after the disaster of the 2019-20 (and 2017-18 wasn't too great either).
@El Scorcho I’m going to agree with you as I’m optimistic about a ‘23 bull market…
Carson7 profile picture
NEE has much further to correct. Their renewable pipeline just blew up..
Mr. Gumbo profile picture
@Carson7 about time they come back to earth!
Apkiv4 profile picture
@Carson7 much further? Nice crystal ball you have there
kpmedia profile picture
@Carson7 At least 10% more, minimum.
oversold can get oversold and overbought can get overbought. Technical indicators only really work for really short term trends.
@grewalg87 Yessir!!
This has been a spectacular rebuking of the bears this month. A pullback wouldn’t be surprising but the year should be a good one for stocks unless a Black Swan event occurs.
You make it sound as if the 6% SPX is sooo huge
@Niki Naza Plenty of growth stocks up 100% off their bottoms
Carson7 profile picture
NEE STILL has a PE of 35! For a utility! Way, way out of bounds. Duke (DUK) PE is 20.
Coach Baker profile picture
@Carson7 And DUK is still out of bounds.
Bigrig04 profile picture
@Carson7 comparing PEs without looking under the hood of both businesses is futile.
Carson7 profile picture
@Kid Cisco exactly! I remember when NEE (FPL) ALWAYS traded near a 14 PE for 10 years. Now, PE is 35 and the CEO JUST LEFT THE COMPANY?
SuperPac profile picture
38 overbought and merely 2 oversold.
Frothy market, disconnected from Reality. Needs higher for longer, much longer.
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