Most overbought stocks after a volatile week
Overbought stocks signal short-term pullback risk after sharp U.S. market swings See CNBC’s top RSI names, including HPE, Fortinet, Host Hotels and Humana
CNBC’s market screener identified several stocks that moved into overbought territory after a week of sharp swings in U.S. equities. The article explains that stocks with a 14day relative strength index above 70 are considered overbought, which can signal that a pullback may follow.
Hewlett Packard Enterprise was among the standout names after rising 14% for the week. The company posted quarterly results that beat analyst estimates, helped by stronger cloud and artificial intelligence revenue. Loop Capital also raised its rating on the stock and lifted its price target.
Fortinet also ended the week with a high RSI after trading around peers’ earnings reports and briefly touching a 52week high. Host Hotels and Resorts and Humana were also listed among the week’s most overbought stocks based on CNBC Pro’s screening data.