A number of prominent stocks missed out on this week’s rally and are oversold, but could bounce back eventually. The S&P 500 boasts his 1.8% gain and is poised for a third consecutive week of wins. The Nasdaq Composite and the Dow Jones Industrial Average also maintain a steady upward pace on a weekly basis. Even as the overall market rose this week, certain individual stocks fell sharply. We used the CNBC Pro Stock Screener tool to find the most overbought and oversold stocks on Wall Street based on the 14-day Relative Strength Index (RSI). Stocks with a 14-day RSI below 30 fall into oversold territory and could potentially rebound in the future. Conversely, stocks with an RSI level above 70 are considered overbought and are likely to fall back. Here are some of the most oversold names. Expedia has earned him an oversold name, down more than 2% since the beginning of the week. The online travel company announced its first quarter results on May 2nd, pointing out the slump in its vacation rental business Vrbo and downwardly revised its full-year outlook. According to Expedia, the 14-day RSI value is approximately 26. Analysts are less confident about the stock, although the average price target suggests the stock has an upside of nearly 32% from current levels, according to LSEG data. The stock has an average rating of Hold. EXPE 5D Line Expedia’s Performance Over the Last 5 Days Ulta is also a stock on the oversold list. The beauty retailer suffered losses of nearly 24% in the quarter as it struggled with increased competition. On April 29, Barclays downgraded the stock from overweight to equal weight. The company also lowered its price target from $612 to $434, citing a faster-than-expected slowdown in the beauty products segment. The stock’s 14-day RSI is 29. Nevertheless, analysts are bullish on the stock, with a consensus buy rating and price target suggesting 38% upside potential. CNBC also found some names expected to see a backlash. The most overbought stocks in the S&P 500 are: Defense technology company Leidos Holdings is the most overbought name in the list, with his RSI value for 14-days at 83.069. Analysts overall rate the stock a Buy, but the consensus price target suggests the stock could only appreciate 7.7% from current levels. Leidos stock is up more than 3% week to date and is on track to rise nearly 36% in 2024. Analysts expect NextEra Energy’s stock price to decline soon. According to LSEG data, the stock’s 14-day RSI is 81.29, with an average price target of about 1.5% below the current price. Indeed, analysts remain bullish on the stock, with the stock still receiving a consensus rating of Buy. The stock is up about 6% this week and more than 21% year-to-date. Navigation technology company Garmin may soon see its rise come to an end. The stock rose about 2% this week and is up more than 31% for the year. However, the consensus price target suggests the stock could fall 13.8% from current levels. Analysts have a tepid view on the stock, with an average rating of “hold.” Disclosure: The above is subject to our Terms of Use and Privacy Policy. This content is provided for informational purposes only and does not constitute financial, investment, tax, or legal advice, or a recommendation to purchase any security or other financial asset. The Content is general in nature and does not reflect any individual’s unique personal circumstances. The above may not be appropriate for your particular situation. Before making any financial decisions, you should strongly consider seeking the advice of your own financial or investment advisor. Click here for full disclaimer.
Expedia and this beauty stock are among the most oversold stocks
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