Meta and Broadcom are among the most overbought stocks on Wall Street

Stocks rallied to end the week, popping as May's jobs report came in strong and lawmakers in Washington passed a debt ceiling bill. The Senate passed a bill to raise the debt ceiling and tighten government spending late Thursday, and the measure now goes to President Joe Biden for signing. The three major averages jumped Friday, and the tech-heavy Nasdaq Composite notched a weekly gain of just over 2%. Still, some names are looking a little too hot.

mountain Meta stock has added more than 127% from the start of the year. Also on the list is chipmaker and artificial intelligence beneficiary Broadcom . The company has a 14-day RSI reading of 83.9. More than 70% of analysts who cover the stock gave it a buy rating, according to FactSet. Bank of America reiterated a buy rating on Broadcom stock this week, citing an undervalued AI segment. Analyst coverage compiled from FactSet implies 7.3% upside.

مصر أحدث الأخبار, مصر عناوين

Similar News:يمكنك أيضًا قراءة قصص إخبارية مشابهة لهذه التي قمنا بجمعها من مصادر إخبارية أخرى.

Wall Street’s bearishness may offer another reason to buy, says BofA, as stocks rallyStrategists' recommended allocations to stocks have dropped to levels that are sending a contrarian, bullish signal to the U.S. stock market, according to...
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »

The uber-wealthy are doing just fine and Wall Street is cashing in | CNN BusinessWorries of a possible global recession are deepening as heightened inflation and interest rates act as a brake on spending, while geopolitical strife adds to a sense of profound economic uncertainty.
مصدر: CNN - 🏆 4. / 95 اقرأ أكثر »

Wall Street fear gauge hits 3-year low as 'FOMO' inspires traders to chase stocks higherWall Street's "fear gauge" has fallen to its lowest level in more than three years, the latest sign that investors are poised to chase stocks...
مصدر: MarketWatch - 🏆 3. / 97 اقرأ أكثر »