10 stocks to watch for a rebound: Can travel stocks rebound amid new vaccine?
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.
Performance Tracking of Previous Column (10/25)
There are 6 out of 10 selected stocks that followed the suggested movement provided by the RSI indicator.
There are 6 out of 10 selected stocks that followed the suggested movement provided by the RSI indicator.
What now?
$Moderna(MRNA.US)$, which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat.
$Moderna(MRNA.US)$, which was the second biopharma company to get authorization for a COVID-19 vaccine, is confident it will have something on the table shortly to tackle the latest virus threat.
Moderna's current vaccine will be tested against the new variant, and its ability to offer immunity will likely be known over the next couple of weeks, the company's chief medical officer Paul Burton reportedly said on BBC's "Andrew Marr Show."
If the testing finds the current vaccine to be inadequate, the company can formulate a brand-new vaccine that could be made available in large quantities by early 2022, Burton was quoted as saying.
Wall Street stocks skidded sharply lower on Black Friday as investors reacted to fresh travel bans resulting from the discovery in South Africa of a new variant of the coronavirus that causes COVID-19.
The popular airline-related exchanged-traded fund U.S. Global JETS, which has come to serve as a good indicator of the market's view on the progress out of pandemic-related restrictions and toward economic recovery, closed down 7.2%.
Aircraft maker $Boeing(BA.US$ retreated by 5%, and $Southwest Airlines(LUV.US$ stock was more than 4% lower. Shares of $American Airlines(AAL.US$ slumped more steeply, losing 8.8%. Meanwhile, $Carnival(CCL.US$ shares were down 10.96% and $Norwegian Cruise(NCLH.US$ traded off almost 12%.
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
Disclaimer: Community is offered by Moomoo Technologies Inc. and is for educational purposes only.
Read more
Comment
Sign in to post a comment
