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These tech stocks were extremely 'overbought' ahead of the massive sell-off

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For subscribers: These tech stocks were extremely 'overbought' ahead of Thursday's massive sell-off. Check out CNBCPro today.

A view of Nasdaq in Times Square hours ahead of the implementation of 'New York State on PAUSE' executive order as the coronavirus continues to spread across the United States on March 22, 2020 in New York City.Thursday's sell-off chopped the top off the recent rally for the market, hitting the red hot tech sector particularly hard. Technical factors showed that some of those stocks were due for a pullback, according to Bespoke Investment Group.

The tech-heavy Nasdaq Composite, which had risen more than 30% so far in 2020, sank nearly 5%. Several major tech stocks were in Bespoke's list of the top-40 most overbought stocks as of Monday, including the most stretched out name on the list.

 

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Pro Retail dumb$ & 401ks trading other people’s$ got in at the top in July/Aug = QuickTest of July lows in this W recovery? 🌷

Pro I hope the brakes are working on that truck I can see in my review mirror.

Pro I think we will see more selling. I don’t necessarily like it as. Over 50% of my portfolio is in tech, SOXX, QTEC, FTEC, FDN etc. They’ve all done well and I will hold them but wouldn’t be surprised to see them drop 10-20% in the near future.

Pro Great insight there. Definitely warrants getting a Pro subscription for articles like this.

Pro Just a normal market correction. All part of investing. Ignore it

Pro Dear Fed, thanks for making CD's worth sh*t...

Pro CNBC is still hardcore Republican

Pro

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