The S&P 500 may have been in a difficult situation for the second consecutive week, but it is good news for investors: many companies are out of sales and are technically rallied. The 500-share benchmark fell 1% this week, while the technology-heavy Nasdaq Composite fell 3.5%. Bluecore Jones Industrial Average was the best-performing index this week, with a magnitude of 1%. Investors have been rocked by the Trump administration’s commitment to additional tariffs in recent days, a potential sign of economic softening. AI Poster Children’s NVIDIA fell 8.5% on Thursday, further trampling market optimism after its latest earnings report and embarking on a new year. Against this backdrop, CNBC Pro uses its stock filter tool to identify the most overbought stocks on Wall Street, measured by its 14-day relative strength index or RSI. RSI stocks under 14 days are considered to be more than 30 days, indicating that a potential rebound may be in the range. Instead, readings from stocks on 70 signals exceed the reading, meaning the stock may cause a pullback soon. Electric car maker Tesla has an RSI of 18, one of the most stocks on Wall Street. Stocks ended the week, down 13%, while Tesla fell 8% on Tuesday alone. The stock is now down 40% from its December 17 record of $479.86 after Friday’s end. Reuters reported on Monday that the move was lower, saying Tesla’s self-driving software was upgraded in China, disappointing owners. Barclays analyst Dan Levy said in a note on Wednesday that Tesla’s sell-off could also be caused by a reversal of technical factors that drove previous rally. “Our best explanation is that in the election after the U.S. election, it has a strong run, which reflects a combination of keen euphoria and technical factors – fundamentals are largely dismissed,” he wrote. “Bitcoin has also been traded since mid-December and largely reflects Tesla’s decline in the last month. We believe this may reflect the general backpack of speculative assets/Trump beneficiaries.” On Thursday, however, Morgan Stanley reiterated its overweight rating for Tesla, and analyst Adam Jonas said it was the initial equipment maker that would likely “help ‘transplant’ Chinese electric car makers into the U.S.” while investors were very idle around PayPal. Financial payments stocks ended 5.2% after the first investor day in four years and are now down 17% over the year. On Investors Day, CEO Alex Chriss has developed a turnaround strategy at the company, with payment apps making up to $2 billion by 2027. This is about $900 million compared to Paypal’s last annual revenue estimate for Venmo in 2021. Philip Morris International, on the other hand, listed overbought stocks with an RSI of 78. The tobacco giant has soared 29% so far. The Marlboro boss reported that the fourth quarter of the month exceeded analyst expectations, and the stock exceeded analyst expectations, and the stock exceeded analyst expectations, and the stock exceeded the increase in Zyn Nicotine Pouches, which was particularly popular with the young population, which exceeded analyst expectations. In January, Morgan Stanley launched Philip Morris with an overweight rating, citing smoke-free products as the main catalyst. “We see PMI’s stock continue to rise as its risk-reducing smoke-free portfolio drives stronger than expected LT sales and earnings growth and will be a larger portfolio, which should drive the stock’s rise,” the company wrote. Biopharma Stock Gilead Sciences also recorded 78 shares of RSI. This month, Gilead released its fourth-quarter revenue and revenue beat in early February, with stocks exploding 18% this month. Last week, Deutsche Bank upgraded its name to a buy rating of “Hold”. “We are upgrading GILD to buy and boosting DCF-based PT to $120 – our upgrade is based on the Gild Lifecycle Management of its core HIV treatment franchise to allow steady revenue to grow into the 2030s,” the bank said. Gilead Sciences’ stock is now growing 24% this year. – Fred Imbert of CNBC contributed to the report.
These S&P 500 shares sold deeply, probably due to rebounds | Real Time Headlines
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