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These are the most overbought stocks as November kicks off

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Stock Markets,GE Vernova Inc,United Airlines Holdings Inc

Investors have been picking up shares of GE Vernova and United Airlines even during the market's recent dip. They may be poised to fall, by one popular metric.

Investors have been accumulating shares of several big-name companies — from GE Vernova to United Airlines — during the market's recent dip. But those and other overbought stocks could be due for a pullback, according to one popular yardstick. November is off to a strong start after the major U.S. stock indexes ended October in the red. The S & P 500 fell 1% in the previous month, snapping a five-month advance, while the 30-stock Dow shed 1.3% and the Nasdaq edged down 0.5%.

Pro screened for stocks that are considered technically overbought on the basis of their 14-day relative strength index . Companies with a 14-day RSI above 70 are often regarded as overbought, signaling a pullback may be ahead, while a 14-day RSI below 30 often suggests a stock is oversold and could see future upside. GE Vernova shares have jumped 19% over the past month, and now have a 14-day RSI of 76.9. Shares briefly rose as much as 3.3% on Friday, reaching a fresh all-time high.

 

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