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These global stocks are the most overbought — and could be due for a pullback

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CNBC Pro screened the S&P 500 and the Vanguard FTSE All-World ex-US ETF for the most overbought names, using a 14-day relative strength index of higher than 70.

Markets may have continued their run for much of this year after a bullish 2023, but stocks pulled back last week. The Dow Jones Industrial Average posted its worst weekly performance since March 2023 last week, while the S & P 500 declined nearly 1% — its biggest weekly loss since early January. Overall, however, markets — including global stocks — are still very much deep in positive territory. The S & P 500 is up around 9.6% year-to-date, and in fact hit new record highs in March .

Pro screened the S & P 500 and the Vanguard FTSE All-World ex-US ETF for the most overbought names, using a 14-day RSI of higher than 70. These are among the top overbought names in the S & P 500, according to FactSet.

 

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