Wall Street's most overbought stocks include General Motors and a pharma stock

There's a Wall Street momentum indicator that can help investors filter out the most overbought, and oversold, stocks. The "relative strength index" alerts investors of potential overbought and oversold conditions in the market by measuring the speed and magnitude of recent price moves. A stock is considered overbought if its 14-day RSI goes above 70. This indicates that it may be overextended after a strong run, meaning investors might want to reduce their exposure.

Pro screened for the 10 most overbought stocks in the S & P 500. We also look at the percentage of analysts rating the stocks a buy, their potential upside to their average price targets and performance in 2023. Catalent was one of the most overbought stocks in the S & P 500. The pharmaceutical company has a14-day RSI of 82.46. The stock has jumped 58% in 2023, though it's still down 27% over the last 12 months. Analysts on average see the stock rising than 14%, FactSet data shows.

Pro also searched for oversold stocks in the S & P 500. Electronic Arts was identified as one of the most oversold stocks. The digital entertainment company's 14-day RSI came in at just 17.48. However, 50% of analysts covering EA rate it as buy. EA is off to a rocky start, down 9% this year. Late last month, EA reported a disappointing quarterly revenue and reduced its outlook for bookings. Match Group has a 14-day RSI of 26.08.

's Michael Bloom contributed to this report.

Signals given by the Relative Strength Index (RSI) can sometimes be false, especially when it comes to trending markets. Not sure we can call these stocks overbought or oversold based on this data... MoneyDubai

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