Stocks including United Airlines and Morgan Stanley have seen immense buying on Wall Street this week and could be in store for a pullback. Equities are rebounding from a sluggish start to the week on Friday , with both the S & P 500 and Nasdaq Composite rallying to fresh all-time highs. These moves were boosted by a strong rise in technology stocks including Amazon, Microsoft and Nvidia, ahead of their respective quarterly results.
Pro screened for stocks that are technically considered overbought when measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI measuring above 70 are typically viewed as overbought, signaling a pullback may be looming, while a 14-day RSI below 30 indicates a stock is oversold and may move higher. United Airlines stock has surged more than 82% in 2024, and has a 14-day RSI of 85.9, which is the second-highest reading on the list.
mountain Moderna stock. Other oversold names on the list include General Mills and Enphase Energy .
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