The stock market ended the volatile week lower, but there could still be opportunities for plenty of companies' shares to rebound. Conversely, some stocks look like they are due for some more cooling off. After a slow start, , the major averages ultimately registered a weekly decline as inflationary fears, rising Treasury yields and subdued bank earnings weighed on investors. The S & P 500 and Dow Jones Industrial Average fell 1.6% and 2.
Pro used its stock screener tool to find the most overbought and oversold stocks on Wall Street as measured by their 14-day relative strength index, or RSI. Stocks with a 14-day RSI above 70 are considered overbought, which indicates that shares might soon turn lower. Conversely, a reading below 30 often signals that a stock is oversold, with a potential rebound possible. Devon Energy made the list of overbought stocks, dominated by oil and gas producers, with an RSI of 82.
's Fred Imbert contributed to this report.
Canada Canada Latest News, Canada Canada Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: AP - 🏆 728. / 51 Read more »
Source: AP - 🏆 728. / 51 Read more »
Source: ksatnews - 🏆 442. / 53 Read more »
Source: wjxt4 - 🏆 246. / 63 Read more »
Source: TheBlock__ - 🏆 464. / 53 Read more »
Dogecoin20 Emerges as Investor Interest Shifts Amidst Volatile Meme Coin MarketInvestor interest is now shifting towards Dogecoin20 (DOGE20), an emerging project set to debut on Uniswap later this month. Dogecoin (DOGE) has faced a 20% decline since Sunday’s high, reaching its lowest price in the past nine days. Traders attempted to push the price higher but were rejected, creating a double-top pattern on the chart. DOGE closed below its 20-day EMA, signaling waning upside momentum.
Source: Cointelegraph - 🏆 562. / 51 Read more »