10 stocks to watch for an impending rebound or pullback (Week of 11/01)
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).
Performance Tracking of Previous Column (10/25)
There are 7 out of 10 selected stocksthat followed the suggested movement provided by the RSI indicator.
There are 7 out of 10 selected stocksthat followed the suggested movement provided by the RSI indicator.
$Brown & Brown (BRO.US)$ ， $Northrop Grumman (NOC.US)$ ， $SVB Financial (SIVB.US)$ $Align Technology (ALGN.US)$ are the outstanding stock picks of last week.
Overbought
$Tesla (TSLA.US)$
Overbought
$Tesla (TSLA.US)$
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
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
102954100 : thanks and keep it up