10 stocks to watch for an impending rebound or pullback (9/29)
Hello mooers:
An overbought stock is believed to await a correction or pullback, while an oversold stock has the potential for a price bounce.
We selected a few stocks that contain potential investment opportunities with RSI indicator to find out what the most overbought and oversold companies in S&P 500 today are.
Overbought& Oversold definition
A stock would usually be considered overbought when the RSI > 70 and oversold when RSI < 30.
According to the theory created by J. Welles Wilder Jr, when the RSI < 30, it is a bullish sign (buy signal), and when RSI > 70, it is a bearish sign (sell signal).
We collect stocks from S&P 500 as it contains most of valuable companies.
Want to screen the market by yourself? Read:How to use a stock screener
Want to learn more about technical trading? Read: Technical Analysis 101:Introduction to technical indicators
$CF Industries Holdings (CF.US)$ $FedEx (FDX.US)$ $Atmos Energy (ATO.US)$ $ConocoPhillips (COP.US)$ $Cabot Oil & Gas Corp (COG.US)$
$CF Industries Holdings (CF.US)$ $FedEx (FDX.US)$ $Atmos Energy (ATO.US)$ $ConocoPhillips (COP.US)$ $Cabot Oil & Gas Corp (COG.US)$
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
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bullrider_21 : Using RSI alone is not reliable. The price may continue to fall until RSI is near zero. Conversely, price may continue to rise until RSI is in the 90s.
Technical DNA OP bullrider_21 : Hey bullrider21, firstly thanks for your reply![[undefined]](https://static.moomoo.com/nnq/emoji/static/image/default/default-black.png?imageMogr2/thumbnail/36x36 "undefined")
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Yup you’re definitely right, we shouldn’t decide to buy any stock by a single indicator. As you said, nobody can predict the market and no indicator will work forever.
We collects stocks using different indicators (MACD, RSI, and more..) to help Mooers discover investment opportunities instead of asking Mooers to buy them, cos there are various factors affecting share price…
But if you’re bullish on a company with technical buy signals, buy it then, and you’re more likely to profit from it!